Indian mattress maker Sheela Foam is in advanced talks to buy furniture rental startup Furlenco. The enterprise value of Furlenco is being pegged at Rs 500 crore.
The company had been seeking financial investors for some time. Discussions are at an advanced stage, and an announcement is likely to come if all conditions are met," the report added.
Sheela Foam is seeking inorganic growth opportunities in both its core and non-core categories, the third person said according to the report. In December, Sheela Foam was reported to be in talks to acquire rival Kurlon for Rs. 20 billion.
