Kentucky, US – Mattress manufacturer Tempur Sealy is expanding its retail footprint in the US with the acquisition of Mattress Firm. It is paying about $4bn in cash and stock for the retailer, the largest specialist mattress retailer in the US, which has more than 2300 stores across the country, as well as an e-commerce platform. The transaction is expected to close in the second half of 2024.
“This acquisition aligns with our strategy of acquiring companies that extend our competitive advantages, enable us to move closer to consumers, and facilitate continued innovation,” said Scott Thompson, the company’s chairman and CEO. “This combination will complement Tempur Sealy’s extensive product development and manufacturing capabilities with vertically integrated retail. The two companies have grown over the last 35 years with a mutual focus on providing customers the best sleep products in the world. We are thrilled to formally bring these teams together.”