BUSINESS

Libra Group invests in Greek 'eco-bedding' manufacturer

The Libra Group, a diverse international business group comprising 30 subsidiaries active on five continents and with a particular interest in travel and hospitality, said on Thursday that it will be the principal investor in 50 percent of Coco-Mat, forming a joint venture with the leading Greek manufacturer of specialist mattresses, other natural sleep products and furnishings.

Coco-Mat, which has been manufacturing premium sleep products (primarily mattresses, beds and pillows) using solely natural materials which are derived from sustainable resources since 1989, has operations in 12 countries including the USA, Germany and China. The aim of the partnership is to expand Coco-Mat's presence in the global retail and wholesale markets, especially in the area of hospitality.

Coco-Mat sleep products are all handmade in a company-owned manufacturing unit in Xanthi, in Northern Greece, comprising a total of seven buildings in an area covering 25,000 m2.

Partnering with the Libra Group is London-based independent investment firm the Cycladic Group, owned by Dimitri Goulandris and his family.

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