Click here to close now.

SYS-CON MEDIA Authors: Pat Romanski, William Schmarzo, Elizabeth White, Carmen Gonzalez, tru welu

News Feed Item

The Libra Group invests in COCO-MAT in exchange for a 50% stake in the company

- Iconic Greek 'eco bedding' company, COCO-MAT, welcomes new partnership that will drive global growth and create jobs

ATHENS, Greece, March 13, 2014 /PRNewswire/ -- The Libra Group has announced that it is the principal investor in 50% of COCO-MAT and has formed a joint venture with the leading Greek manufacturer of specialist mattresses, other natural sleep products and furnishings. Partnering with the Libra Group in this investment is the independent investment firm, the Cycladic Group, owned by Dimitri Goulandris and his family. This alliance between privately-held family businesses is designed to facilitate the global expansion of COCO-MAT through access to the Libra Group's extensive global infrastructure.

Established in 1989, COCO-MAT is a leader in natural sleep products (mattresses, beds, pillows and bed linen) as well as furniture and accessories for homes and hotels. The company competes in the high end of the mattress market and is a leader in the fast-growing 'eco-bedding' category which leverages both the 'sleep awareness' and 'natural living' trends that are prevalent, especially in export markets. COCO-MAT beds follow a highly sustainable manufacturing process comprising multiple layers of natural materials, providing optimal support to the human body without the use of non-organic products such as metal springs. The company currently has 70 points of sale including 29 outside Greece.

The Libra Group is a diverse international business group comprising 30 subsidiaries active on five continents. It has a strong presence both in North and Latin America as well as Europe, Middle East and Asia, all of which present substantial growth opportunities for COCO-MAT. Libra Group also has extensive travel and hospitality interests globally which represent a key sector in which COCO-MAT is active – the company's mattresses are used by numerous luxury hotels and under a recent agreement all First Class seats aboard Etihad Airways aircraft will feature COCO-MAT products. This is Libra's first investment in retail and manufacturing in Greece although the group has been actively investing in the country during the economic downturn, notably in the renewable energy and hospitality sectors. Representatives of the new investors will join the COCO-MAT board.

COCO-MAT is already active in 12 countries and expects its global footprint to grow significantly over the next five years. In the retail segment the joint venture's business plan stipulates both additional COCO-MAT-owned flagship stores and new franchised retail outlets. The company will also establish new channels to market such as online sales. The wholesale market will be developed through strategic agreements with architects and interior designers, international hotel groups, airlines and cruise liners. The anticipated growth will result in significant new employment for skilled personnel in the company's headquarters and regional centres as well as production jobs in COCO-MAT's facilities in Xanthi, Greece.

Emmanuel Androulakis, Executive Vice President of the Libra Group, commented: "Coco-Mat is a cherished brand that we have long admired and for which we see significant international growth potential. The business has an exceptional record of product innovation and brand loyalty. We share COCO-MAT's values and vision and these are key ingredients for a successful long-term partnership. We have great faith in the COCO-MAT philosophy and in its management team. Furthermore, we believe strongly in the underlying strength of Greek businesses and of Greek human capital and expect to continue expanding our investment and operations in the country. We would also like to thank Invest in Greece for their guidance and support during the negotiation and completion of this transaction."

Mike Efmorfidis, the co-founder and CEO of COCO-MAT, added: "We are excited to welcome our new partners as strategic investors in our company, which will help us take a successful Greek brand to the next level as a truly global player. Our joint strategy is to expand into new geographies and sales channels and to take advantage of the largely untapped wholesale markets. We expect our new partners' market insight, global presence and extensive network of industry contacts to help COCO-MAT achieve its growth ambitions. We in turn would like to thank Marios Sophroniou of BBSL who initiated the strategic alliance and was Coco-Mat's exclusive advisor".

Notes to Editors:

About the Libra Group

The Libra Group is an international business group with principal operations in five core sectors: shipping, aviation, real estate, hospitality and energy. The group which is owned by the Logothetis family comprises 30 subsidiaries operating across five continents. Libra is distinguished by a combination of traditional values, new ideas and an agile mindset that allows it to take advantage of opportunities. (www.libra.com)

About Cycladic Group

London-based Cycladic Group is an investor in, and creator of, businesses. Founded in 2002 by Dimitri Goulandris to invest capital on behalf of his family and other investors, the group has invested in over 30 businesses and founded five in the U.S., Europe, India, Africa and Latin America.  Cycladic works closely with its investee partners to help them achieve their ambitious goals.

About COCO-MAT

COCO-MAT is a company based in Greece which was established in 1989 with the mission to improve peoples' quality of life by providing the best possible premium sleep products (primarily mattresses, beds and pillows) using solely natural materials which are derived from sustainable resources. COCO-MAT is defining the market category of natural sleep products and has operations in 12 countries including USA, Germany and China, by focusing on three core elements:

  • Producing premium high quality natural sleep products
  • Offering a higher level of customer service
  • Providing an informative customer experience whose aim is to raise customers' awareness on the personal and societal benefits of using natural products

(www.coco-mat.com)

SOURCE Libra Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
T-Mobile has been transforming the wireless industry with its “Uncarrier” initiatives. Today as T-Mobile’s IT organization works to transform itself in a like manner, technical foundations built over the last couple of years are now key to their drive for more Agile delivery practices. In his session at DevOps Summit, Martin Krienke, Sr Development Manager at T-Mobile, will discuss where they started their Continuous Delivery journey, where they are today, and where they are going in an effort ...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. The DevOps Summit at Cloud Expo – to be held June 3-5, 2015, at the Javits Center in New York City – will expand the DevOps community, enable a wide...
The web app is Agile. The REST API is Agile. The testing and planning are Agile. But alas, Data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes which force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software orga...
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, con...
Cloud Expo, Inc. has announced today that Andi Mann returns to DevOps Summit 2015 as Conference Chair. The 4th International DevOps Summit will take place on June 9-11, 2015, at the Javits Center in New York City. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at ...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...