Tempur Sealy Completes Acquisition of Mattress Firm and Announces Name Change to Somnigroup International

Summary

On February 5, 2025, Tempur Sealy International, Inc. completed the acquisition of Mattress Firm Group Inc. for approximately $5 billion, funded by $2.7 billion in cash and 34.2 million shares of stock. The acquisition, which was previously announced, will accelerate Tempur Sealy's omni-channel strategy. In connection with the acquisition, the Company expanded its Board of Directors by appointing Peter R. Sachse as an independent director. The Company also announced that it will change its name to Somnigroup International Inc., effective February 18, 2025. Mattress Firm, Dreams, and Tempur Sealy will operate as decentralized business units under Somnigroup. A press release with further details was issued on the same day. Tempur Sealy will host a business update call on February 6, 2025.