Hilding Anders increases its holdings in Slumberland Asia Pacific

Hilding Anders acquires further shares in the Asian bed and mattress manufacturer Slumberland Asia Pacific Ltd.

Since 2002 Hilding Anders is part owner of the Asian bed and mattress manufacturer Slumberland Asia Pacific Ltd. The company is present in China, Thailand, Malaysia, Indonesia and Singapore with five factories and some 200 shops that sell the brands Slumberland and Vono. Hilding Anders has increased its holdings in Slumberland Asia Pacific gradually since 2002 and the last part of the acquisition has now been carried out. Since 19 June Hilding Anders owns 90 percent of the shares compared to the previous 70 percent. The remaining 10 percent will be acquired in the beginning of 2010 from the IDS Group, a stock listed company in Hong Kong. Anders Pålsson, President and CEO comments: ”The Asian market has generally been able to hold up against the economic downturn that has been apparent during the last year. Slumberland Asia Pacific has had a good development during the first six months of 2009, within the retail sector as well as within the hotel sector. Slumberland Asia Pacific is an important corner stone in the Group’s Asian strategy and we expect to be able to use the company as a base for further growth.”