Bed giant Dreams has been snapped up by US bedding specialist Tempur Sealy in a deal worth £340million.

Dreams, which has stores across the county, including outlets in Canterbury, Tunbridge Wells, Ashford, Maidstone, Medway, Sittingbourne, Gravesend and Dartford, will be run as an independent business and by the existing management team following the takeover.

Tempur Sealy - which produces the popular Tempur mattress brand - says the acquisition should now see it generate $1billion (£710m) in sales globally and allow it to increase its market share in Europe.

Dreams has more than 200 stores nationwide and generated sales of £283m last year.

The deal is expected to be completed later this year once it has been given the rubber stamp by the UK Financial Conduct Authority.

Tempur Sealy International chairman and CEO, Scott Thompson, said: "Dreams has created a strong retailer brand and business model, known for its outstanding products and customer service. We have worked with Dreams for many years and they are one of the most talented retailers we service. They have consistently demonstrated best-in-class web marketing, customer service and sales capabilities. This acquisition better positions both organisations to service customers and bring innovative products to market."

Dreams CEO Mike Logue added: "With Tempur Sealy, we expect to drive our growth strategy and build on our position as the most recommended specialist bed retailer in the UK. I would like to take this opportunity to thank our 2,000 colleagues for their hard work, dedication and commitment."

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