Bengaluru: Leading mattress maker Kurl-on has acquired US-based luxury mattress brand Spring Air for Rs 70 crore. The acquisition will enable Kurl-on to cross the Rs 2000-crore revenue mark in the next two years, said Sudhakar Pai, chairman and managing director of Kurl-on.“We have acquired international bedding brand Spring Air for Rs 70 crore. The acquisition will strengthen Kurl-on’s presence in the premium bedding segment, besides enabling us to penetrate the fast-growing demand in the hospitality sector,” said Pai.The acquisition covers Spring Air’s operations across India, Bangladesh, Sri Lanka and Pakistan. With this acquisition, Spring Air and Englader brand of mattresses will now be under the Kurl-on umbrella. Under the terms of the sale agreement, Spring Air will continue to manufacture its bedding products from its two manufacturing centres, complementing Kurl-on’s existing ten manufacturing facilities. KPMG Corporate Finance was the transaction advisor for this deal.Currently at Rs 10,000 crore, the mattress industry is projected to reach Rs 14,000 crore by 2021, according to statistics provided, with a CAGR of 9 per cent. Kurl-on is a leading brand of mattresses, furniture and furnishing products. It manufactured and sold 13 lakh mattresses last year. The brand is available across India through 7000 multi-brand outlets, 1300 franchise outlets and 102 exclusive brand outlets. Spring Air is among the top 10 manufacturers of bedding products in the world specializing in orthopaedic beds. Kurl-on was founded in 1962 by Ramesh Pai while Spring Air was founded in 1926 by Francis Karr.