Lexington, Kentucky-based mattress manufacturer Tempur Sealy International Inc. announced that it expects to close its $5 billion acquisition of Mattress Firm Group Inc., the largest mattress specialty retailer in the United States. The deal was first announced on May 9, 2023.
As of Friday, Jan. 31, the acquisition was cleared to close following a ruling from the United States District Court for the Southern District of Texas denying the motion by the Federal Trade Commission for a preliminary injunction to halt the closing. According to a news release from Tempur Sealy, the FTC has “indicated that it will not seek emergency relief from the Fifth Circuit and will not prevent the transaction from closing.”
“We are excited to move forward with our combination with Mattress Firm, which creates the leading vertically integrated global bedding company and which we strongly believe will bring significant benefits to all of our stakeholders,” Tempur Sealy chairman and CEO Scott Thompson said.
Effective Feb. 18, 2025, Tempur Sealy will change its name to Somnigroup International. The company states that Mattress Firm, Tempur Sealy and Dreams (the United Kingdom-based retailer it acquired in 2021) will operate as “decentralized business units” under its new name.
Read more on this story: Leading Global Bedding Company Tempur Sealy to Acquire Mattress Firm, the Nation’s Largest Mattress Specialty Retailer.
