Somnigroup International has announced plans to acquire Leggett & Platt in an all-stock transaction valued at approximately $2.5 billion.
The deal has been approved by the boards of both companies and is expected to close by the end of the year.
The acquisition continues Somnigroup’s vertical integration strategy that accelerated last year when Tempur Sealy acquired Mattress Firm for $5 billion, forming the entity now known as Somnigroup.
Leggett & Platt has supplied Somnigroup for around five decades, with Somnigroup accounting for 7% of its net sales last year.
Somnigroup chief executive Scott Thompson said Leggett & Platt’s engineering capabilities, diversified end markets and cash-generating profile significantly strengthen the group’s global platform.
Following completion, the combined business is expected to operate 175 manufacturing facilities across 36 countries with more than 36,000 employees.
Combined 2025 net sales reached approximately $11.2 billion, with adjusted EBITDA of $1.7 billion and operating cash flow of $1.1 billion.
The companies expect synergy opportunities across sourcing, operations and product innovation, generating a $50 million positive EBITDA impact over three years, including around $10 million in the first 12 months after closing.
Leggett & Platt will initially continue operating as a separate unit from its headquarters in Carthage, Missouri. Chief executive Karl Glassman will remain temporarily, while a new CEO is expected within a year.
Analysts noted the deal gives Somnigroup stronger control over key components such as innersprings, foam and adjustable bases, while reducing reliance on third-party suppliers.
