Founder and CEO of Sleep Train, Dale Carlsen, sold his mattress company on Thursday to Mattress Firm Holding Corporation in Texas for $425 million.
"It's an exciting time for the local community as well as the nation," Carlsen Said. "What we're looking for is really to be able to be the best resource across the country for people to have a better night sleep."
Sleep Train currently has 312 stores in six states. Mattress Firm has 1,500 stores in 36 states, according to Mike Wilson, the company's marketing executive.
Carlsen will become the president of Mattress Firm and says the west coast corporate office will be in Rocklin.
"This is where I live, and I'm a Sacramento boy," Carlsen said.
The sale and merger of the two companies also gives Carlsen the chance to help the charity "Ticket to Dream" on a national platform. It's the charity for foster children he and his wife started eight years ago.
"We're there to support them, whether it be school supplies, backpacks, shoes, whatever they need," Carlsen said.
As for the sign in front of the Sleep Train Arena, don't expect it to come down anytime soon.
"It's going to remain the sleep train arena until the new arena comes out," Carlsen said.
The sale of the mattress company hasn't been finalized as yet, but it's expected to be completed later this year.