Dallas-Based Somnigroup Acquires Leggett & Platt in $2.5B Deal

The combined company will generate $11.2B in 2025 net sales and operate 175 manufacturing facilities globally.

Apr. 15, 2026 at 9:40pm

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A high-end studio still life photograph featuring a collection of premium metal and wood components used in manufacturing mattresses, furniture, and automotive seating, elegantly arranged on a clean, monochromatic background to symbolize corporate strategy and supply chain integration.Somnigroup's acquisition of Leggett & Platt combines two industry leaders to drive more innovative and consumer-focused home and automotive products.Dallas Today

Dallas-based Somnigroup International has signed a definitive agreement to acquire Leggett & Platt, a leading supplier of bedding components and other industrial products, in an all-stock deal valued at around $2.5 billion. The combined company will have approximately $11.2 billion in 2025 net sales, $1.7 billion in adjusted EBITDA, and a global workforce of over 36,000 employees.

Why it matters

The acquisition strengthens Somnigroup's vertical integration strategy, allowing it to deliver more innovative and consumer-centric products. Leggett & Platt's strong engineering capabilities and diversified end markets complement Somnigroup's existing brands like Tempur-Pedic and Mattress Firm.

The details

Under the terms of the deal, Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock for each share of Leggett & Platt they own, giving them around 9% ownership of the combined company. The transaction has been unanimously approved by the boards of both companies and is expected to close by the end of 2026, pending shareholder and regulatory approvals. After the deal closes, Leggett & Platt will operate as a separate business unit within Somnigroup, similar to Tempur Sealy and Mattress Firm.

  • Somnigroup was created in February 2024 via Tempur Sealy International's $5 billion acquisition of Mattress Firm.
  • Somnigroup and Leggett & Platt have collaborated for nearly 50 years, with Leggett & Platt as a leading supplier.
  • The deal is expected to close by the end of 2026.

The players

Somnigroup International

A Dallas-based company created in 2024 through Tempur Sealy's acquisition of Mattress Firm. It is now acquiring Leggett & Platt in a $2.5 billion all-stock deal.

Leggett & Platt

A 143-year-old company based in Carthage, Missouri that is a leading supplier of bedding components, automotive seat systems, furniture components, and other industrial products.

Scott Thompson

Chairman and CEO of Somnigroup International.

Karl Glassman

Chairman and CEO of Leggett & Platt.

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What they’re saying

“This combination is consistent with our vertical integration strategy, which drives innovation and value for customers while also enhancing shareholder value.”

— Scott Thompson, Chairman and CEO, Somnigroup International

“For more than 140 years, we have provided our customers with innovation and quality. I believe this combination positions us to continue that track record and deliver compelling strategic and financial value for our customers, employees and shareholders.”

— Karl Glassman, Chairman and CEO, Leggett & Platt

What’s next

The deal is expected to close by the end of 2026, subject to shareholder and regulatory approvals. After the closing, Leggett & Platt will continue to operate as a separate business unit within Somnigroup, with Glassman assisting in the transition to a new CEO of the Leggett & Platt unit within 12 months.

The takeaway

This acquisition strengthens Somnigroup's position as a vertically integrated sleep and home furnishings leader, allowing it to leverage Leggett & Platt's engineering expertise and diversified product portfolio to drive more innovative and consumer-focused solutions.