LOS ANGELES--(BUSINESS WIRE)--The parent company of King Koil Licensing Company, Inc., the seventh largest bedding brand in the world, was sold late Thursday to Kaiserkorp Corporation of Kuala Lumpur, Malaysia.
Kaiserkorp’s affiliate has been a long-time licensee of King Koil. The announcement was made jointly by Candace Caldwell Smith, owner of the parent company founded by her late father, William M. Caldwell III, in 1981, and Jin Hoe Yeoh, managing director of the new owner.
Yeoh was named chairman and succeeds Garret E. Weyand who has served as chairman and CEO since the passing of Mr. Caldwell in 2000. Yeoh announced that all current King Koil officers will remain in their positions.
David Roberts remains as president and chief operating officer in charge of day-to-day operations.
Yeoh, Teck Hong Goh and Marc Francis Yeoh Min Chang comprise the new board of directors of the parent company and King Koil.
The new owners intend to keep their current headquarters in Willowbrook, Illinois, and the company’s large showroom in Las Vegas, Nevada.
The King Koil brand was founded in 1898 and operates through nine licensees in the United States and 32 licensees internationally, with operations and sales in over 80 countries worldwide.