Somnigroup International agreed on 13 April to acquire Leggett & Platt, the Carthage, Missouri-based maker of bedding components and engineered products, in an all-stock transaction valued at about $2.5bn.
Why Somnigroup International Inc. is buying Leggett & Platt, Incorporated
Somnigroup said the combination continues its vertical integration strategy, bringing component engineering closer to mattress design and consumer trends. The combined company generated 2025 net sales of about $11.2bn and adjusted EBITDA of about $1.7bn, and the deal was expected to be accretive to adjusted EPS before synergies in its first year.
“The addition of Leggett & Platt deepens our vertical integration, secures a critical part of our supply chain, and adds a highly cash-generative business to our portfolio.”
Deal terms and financing
Leggett & Platt shareholders receive 0.1455 Somnigroup shares per share, giving them about 9% of the combined group; the value was based on Somnigroup's 10 April closing price. Leggett & Platt will run as a separate business unit, like Tempur Sealy, Mattress Firm and Dreams, and keep its Carthage offices.
Regulatory approvals and timing
The deal needed Leggett & Platt shareholder approval and antitrust clearances; Somnigroup holders did not vote. Somnigroup completed the combination on 26 August 2026, valuing it at about $2.3bn based on its 25 August share price and including Leggett's debt, and raised its synergy target to $75m.
Market context
Leggett & Platt has supplied Somnigroup for almost 50 years, according to Somnigroup chief executive Scott Thompson, and the combined company will continue honouring Leggett's supply agreements with other bedding customers.
