Stronger Together: Malouf Acquires Downeast
When a high quality bedding, mattress, and pillow company combines with a well-known furniture and women’s apparel company you get what every consumer is looking for: products that look great, feel great, and stand the test of time. Logan, Utah based Malouf and Salt Lake City headquartered Downeast have come together to help each other to become even better than before.
In December 2019, Bill Freedman, one of the founders of Downeast, approached Sam Malouf with a proposal. This sparked some interest in Sam, and plans were put in motion for Malouf to acquire Downeast. Things fell into place easily and swiftly, and by March, papers were signed and the deal was done.
Many of the values of both companies aligned well, including Malouf’s work in child sex exploitation. Downeast is very involved with Choice Humanitarian, a Utah-based nonprofit that works on eradicating poverty in third world villages. Working together in their endeavors, both companies help each other; eliminating poverty allows individuals to rise above a station where sex-trafficking is a well known problem.
Product alignment for both companies has been an easy and synergistic relationship, each party bringing their strengths to the table. Downeast has had a strong hold on retail, and Malouf has employed advanced technology to track wholesale and direct to consumer sales. Both companies have unique products that will continue in their high quality standards. As an added bonus, Downeast welcomes Kacie Malouf as their first female executive in charge of apparel. As a busy mom of five, Kacie knows her clothing needs to be comfortable, easy to care for, and sustainable, which is just what she’s planning to do with the upcoming Downeast clothing line in 2021.
“I am beyond thrilled to bring my experience to the Downeast team, and to learn from them,” said Kacie. “Over 80 percent of this company’s employees are women, and I am honored to represent them as the first female executive. I think we’re going to do some great things together!” said Kacie in a recent press release.
Both companies will maintain offices in their respective locations, with a new Downeast flagship store opening this fall. “Malouf has some great tech developers on their team and they’ve really helped us grow our technology mindset,” says Rich Israelsen, Downeast CEO. “Both companies have complimented each other well so far, and we’re excited for the future. Get used to us, we’re going to be around for a long time.”