An prominent international sleep brand has agreed to acquire Leggett & Platt in an all-stock transaction valued at approximately $2.5 billion, marking a major consolidation in the global bedding and components sector.
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Under the terms of the agreement, Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock for each share held, resulting in them owning around 9% of the combined business on a fully diluted basis. The deal has been unanimously approved by both companies' boards and is expected to close by the end of 2026, subject to regulatory approval and shareholder consent.
Following completion, Leggett & Platt will operate as a standalone business unit within Somnigroup, alongside brands such as Tempur Sealy, Mattress Firm and Dreams. Its headquarters in Carthage, Missouri, will remain in place, and current chairman and CEO Karl Glassman will continue to lead the division during a transition period before a successor is appointed.
The companies, long-standing partners in the bedding supply chain, said the merger builds on nearly 50 years of collaboration and reflects strong strategic alignment. Combined, the group reported approximately $11.2 billion in 2025 net sales, alongside $1.7 billion in adjusted EBITDA.
Somnigroup stated that the acquisition supports its vertical integration strategy, aimed at strengthening innovation and improving efficiency across its global manufacturing and retail network. Leggett & Platt described the deal as an opportunity for shareholders to participate in future growth within a larger international platform.
Source: www.bigfurnituregroup.com
