Leggett & Platt Acquired by Somnigroup | Manufacturing M&A Deal

Somnigroup has completed the acquisition of Leggett & Platt, a manufacturing other business in Missouri, for $2.5 billion. Somnigroup acquires Leggett & Platt to expand its bedding supply chain and leverage Leggett & Platt’s engineering capabilities across mattresses and related products. Leggett & Platt has been a long-standing Somnigroup supplier for decades, contributing about 7% of Somnigroup net sales, and the combined manufacturing footprint is expected to operate 175 facilities in 36 countries with 36,000+ employees. The strategic acquisition is structured as an all-stock merger acquisition, approved by both boards, and expected to close by year-end, continuing Somnigroup acquisitions and vertical integration begun after Tempur Sealy acquired Mattress Firm.