© Reuters.
LEXINGTON, Ky. – Tempur Sealy (NYSE:) International, Inc. (NYSE: TPX) announced today that it is moving forward with its plans to acquire Mattress Firm Group Inc., the largest specialty mattress retailer in the United States. Tempur Sealy expects the Federal Trade Commission (FTC) to complete its review of the transaction by the end of the second quarter.
The acquisition, which was first publicized on May 9, 2023, is anticipated to close in mid to late 2024. Tempur Sealy has been actively preparing for the integration of Mattress Firm, ensuring that key supplier relationships are maintained to support Mattress Firm’s continued operation as a multi-branded retailer.
In the period following the acquisition announcement, Tempur Sealy has secured post-closing supply agreements with six mattress manufacturers, including Purple Innovation (NASDAQ:), Inc., to support Mattress Firm’s product offerings. These agreements align with Tempur Sealy’s strategy to bolster Mattress Firm’s brand diversity and product quality.
Scott Thompson, Tempur Sealy Chairman and CEO, stated, “We have engaged a critical mass of suppliers to provide a robust and diverse offering of high-quality bedding products to Mattress Firm customers.” He emphasized the company’s commitment to maintaining Mattress Firm’s position as a leading retailer with a varied product range.
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