Tempur Sealy Moves Forward on Mattress Firm Acquisition

by Katie Lee

Lexington, Ky. — Tempur Sealy International, Inc. has provided an update on its intended acquisition of Mattress Firm Group Inc. On May 9, 2023, Tempur Sealy signed a definitive agreement to acquire Mattress Firm, the largest mattress specialty retailer in the U.S. The company continues to work with the Federal Trade Commission (FTC) to advance the transaction, and now expects that the FTC will complete its review by the end of the second quarter. Temper Sealy expects the transaction to close in mid- to late 2024.

Tempur Sealy and Mattress Firm continue to make joint progress in planning for post-closing, including solidifying Mattress Firm’s key supplier relationships ahead of the expected closing. Since announcing the acquisition, Tempur Sealy has executed post-closing supply agreements with six other mattress manufacturers, including Purple Innovation, Inc. These contracts are consistent with the company’s plan for Mattress Firm to continue as a multi-branded retailer.

“We have engaged a critical mass of suppliers to provide a robust and diverse offering of high-quality bedding products to Mattress Firm customers,” says Scott Thompson, chairman and CEO of Tempur Sealy. “We look forward to working with quality suppliers and the Mattress Firm organization to facilitate continued innovation and improve the sleep of consumers.”

Tempur Sealy is a leading designer, manufacturer, distributor and retailer of bedding products worldwide, in more than 100 countries. Brands include Tempur-Pedic®, Sealy® and Stearns & Foster®. Products are sold through third-party retailers, as well as in more than 750 company-owned stores worldwide and via e-commerce channels. Temper Sealy has also established the goal of achieving carbon neutrality for its global wholly owned operations by 2040.

SOURCE: Tempur Sealy International, Inc.

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