Ares and Teachers' Complete Simmons Bedding Buyout

Ares Management and the Ontario Teachers’ Pension Plan have completed their acquisition of Simmons Bedding Co., via a pre-packaged restructuring plan. The mattress maker had been acquired for $1.1 billion by THL Partners in 2003, but filed for Chapter 11 bankruptcy protection last fall. Simmons now has around $450 million in outstanding debt, compared to around $1 billion last September.

DealsNorth AmericaUSBriefs