Somnigroup to Acquire Leggett & Platt for $2.5 Billion
Somnigroup International, the parent company of Mattress Firm, has agreed to acquire Leggett & Platt, one of its key suppliers, in a $2.5 billion all-stock deal. The acquisition, expected to close by year-end, is part of ongoing vertical integration in the bedding industry. The combined entity will operate 175 manufacturing facilities across 36 countries with $11.2 billion in net sales and $1.7 billion in adjusted EBITDA.
Topics: acquisition bedding industry corporate merger mattress market vertical integration