21. Aug 2026
Leggett & Platt shareholders back $2.5 billion Somnigroup takeover
Leggett & Platt shareholders have approved the company’s $2.5 billion acquisition by bedding manufacturer and retailer Somnigroup International.
Leggett & Platt is a major producer of specialty polyurethane foams for the bedding and furniture industries through its Elite Comfort Solutions business. Its operations include the development of foam chemicals and additives, foam production and the manufacture of mattresses and other finished products.
The all-stock transaction was agreed in April. Leggett & Platt shareholders will receive 0.1455 Somnigroup shares for each share they own and are expected to hold around 9% of the combined company.
The merger remains subject to one outstanding regulatory approval. The companies previously said they expected to complete the transaction by the end of 2026.
Leggett & Platt will operate as a separate Somnigroup business unit after completion, alongside Tempur Sealy, Mattress Firm and Dreams. The company is expected to retain its headquarters in Carthage, Missouri.
Leggett & Platt chairman and CEO Karl Glassman will initially continue to lead the business and assist with the appointment of a successor within 12 months of completion.
The combined companies generated approximately $11.2 billion in sales during 2025, after eliminating sales between the two businesses. They operate 175 manufacturing sites in 36 countries and employ more than 36,000 people.
Somnigroup expects the combination to produce annual adjusted EBITDA benefits of $50 million when the planned synergies are fully implemented.