Tempur Sealy is looking to grow its business and stem a post-pandemic weakness in sales.
Managers of Sleep Quarters at Clark's Pond in South Portland, relax on one of their Tempur-Pedic beds.said on Tuesday it would buy retailer Mattress Firm in a cash-and-stock deal valued at about $4 billion, as the leading bedding maker looks to grow its business and stem a post-pandemic weakness in sales.
"I don't think it's any harder to go through a downturn with Mattress Firm than it would be to go through it without," Tempur Sealy CEO Scott Thompson said., is among the biggest bedding retailers in the United States, with more than 2,300 brick-and-mortar store locations. Lexington, Kentucky-based Tempur Sealy said it would pay about $2.7 billion in cash and $1.3 billion in company stock issued to Mattress Firm shareholders. After deal closure, Mattress Firm would operate as a separate business unit within Tempur Sealy.
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