The Houston-based retailer, which has nearly two dozen San Antonio stores, will continue as a separate business unit of the bedding manufacturer.
The combined companies will have 21,000 employees, including more than 8,100 at Mattress Firm. They’ll have about 3,000 total retail stores, including more than 2,300 Mattress Firm locations. They’ll also share 30 e-commerce platforms, 71 manufacturing facilities and four research and development facilities worldwide.
Rumors of a Tempur Sealy acquisition swirled in January after Steinhoff called off plans to take Mattress Firm public. Prior to that, Mattress Firm and Tempur Sealy had been business partners for more than a decade, and Mattress Firm accounted for more than 20 percent of Tempur Sealy’s global sales. Two years later, they resumed their business relationship and the Houston retailer put Tempur Sealy products back on its sales floors.At the time of the Steinhoff purchase, it was seen a deal that would save a struggling company.
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