Tempur Sealy to buy Mattress Firm in $4 billion deal

The Associated Press

WASHINGTON (AP) – Tempur Sealy has agreed to acquire Mattress Firm in a cash-and-stock transaction valued at about $4 billion.

The companies said Tuesday they expect to complete the transaction in the second half of 2024.

After the acquistion is complete, Mattress Firm will operate as a separate business unit within Tempur Sealy.

Also on Tuesday, Tempur Sealy posted first-quarter profits of $85.3 million.

On a per-share basis, the Kentucky-based mattress maker said it had profit of 48 cents. Earnings, adjusted for one-time gains and costs, were 53 cents per share.

Read the full story on AP News right here.

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5/9/2023 12:13:40 PM (GMT -5:00)