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.
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