Buffalo, New York-based mattress licensing group Restonic Mattress Corp. has signed a licensing agreement with Crown Posture Bedding in Melbourne, Australia.
Ron Passaglia (right), president and chief executive officer of Buffalo, New York-based Restonic, shakes hands with Darren Paone, principal of Aussie manufacturer Crown Posture Bedding in Melbourne, after signing a licensing deal.
Under terms of the agreement, Crown has exclusive rights to manufacture and distribute the Restonic brand across Australia.
“This is a region that we have been watching for a number of years, and Crown is an excellent fit for Restonic,” said Ron Passaglia, Restonic president and chief executive officer. “After meeting with general manager of sales and marketing (and principal of the company) Darren Paone, we’re confident of the ability of Crown to ‘support the dreams’ of many consumers in this area of the world.”
Crown Posture Bedding is a family-owned and operated manufacturer with facilities in Melbourne and Brisbane. It was established in 1990 and is a national supplier to major bedding retailers. Restonic is its only U.S. brand.
Commenting on the deal, Paone said: “We’re very excited to begin our journey with Restonic, a previously undervalued brand in the Australian marketplace. We see Restonic’s brand equity and marketing assets (as) easily translatable from North America to Australia and look forward to a long and prosperous partnership.”
