LEXINGTON, Ky., Feb. 4, 2025
/PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX,
"Company" or "Tempur Sealy") announced today that it expects to
close its previously announced acquisition of Mattress Firm Group
Inc. ("Mattress Firm"), the nation's largest mattress specialty
retailer, on Wednesday, February 5,
2025. This follows the ruling from the United States District Court for the
Southern District of Texas denying
the motion by the Federal Trade Commission ("FTC") for a
preliminary injunction to halt the closing of the proposed
acquisition. The FTC has indicated that it will not seek emergency
relief from the Fifth Circuit and will not prevent the transaction
from closing.
Tempur Sealy Chairman and CEO Scott
Thompson commented, "We are excited to move forward with our
combination with Mattress Firm, which creates the leading
vertically integrated global bedding company and which we strongly
believe will bring significant benefits to all of our
stakeholders."
Business Update Call
The Company will hold a conference call on Thursday, February 6, 2025 at 8:00 a.m. Eastern Time to discuss the
transaction.
The Company has a separate conference call scheduled to discuss
the Fourth Quarter and Full Year 2024 financial results on
Thursday, February 20th,
2025 at 8:00 a.m. Eastern Time.
The calls will be webcast and can be accessed on the Company's
investor relations website at investor.tempursealy.com. After the
conference calls, webcast replays will remain available on the
investor relations section of the Company's website for 30
days.
Forward-Looking Statements
This press release contains statements that may be characterized
as "forward-looking" within the meaning of the federal securities
laws. Such statements might include information concerning one or
more of the Company's plans, guidance, objectives, goals,
strategies, and other information that is not historical
information. When used in this release, the words "will,"
"targets," "expects," "anticipates," "plans," "proposed,"
"intends," and variations of such words or similar expressions are
intended to identify forward-looking statements. These
forward-looking statements include, without limitation, statements
relating to the Company's expectations regarding the expected
Mattress Firm acquisition. Any forward-looking statements contained
herein are based upon current expectations and beliefs and various
assumptions. There can be no assurance that the Company will
realize these expectations or that these beliefs will prove
correct.
Numerous factors, many of which are beyond the Company's
control, could cause actual results to differ materially from any
that may be expressed herein as forward-looking statements. These
potential risks include the Company's ability to close the Mattress
Firm acquisition on the timeline indicated or at all; risks
associated with Mattress Firm's ongoing operations; the ability to
successfully integrate Mattress Firm into Tempur Sealy's operations
and realize synergies from the transaction; the possibility that
the expected benefits of the acquisition are not realized when
expected or at all; general economic, financial and industry
conditions, particularly conditions relating to the financial
performance and related credit issues present in the retail sector,
as well as consumer confidence and the availability of consumer
financing; the impact of the macroeconomic environment in both the
U.S. and internationally on Mattress Firm and the Company;
uncertainties arising from national and global events; industry
competition; the effects of consolidation of retailers on revenues
and costs; and consumer acceptance and changes in demand for
Mattress Firm's and the Company's products and the factors
discussed in the Company's Annual Report on Form 10-K for the year
ended December 31, 2023 and the
Quarterly Report on Form 10-Q for the period ended June 30, 2024. There may be other factors that
may cause the Company's actual results to differ materially from
the forward-looking statements. The Company undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date on which such statement is
made.
About Tempur Sealy International, Inc.
Tempur Sealy is committed to improving the sleep of more people,
every night, all around the world. As a leading designer,
manufacturer, distributor and retailer of bedding products
worldwide, we know how crucial a good night of sleep is to overall
health and wellness. Utilizing over a century of knowledge and
industry-leading innovation, we deliver award-winning products that
provide breakthrough sleep solutions to consumers in over 100
countries.
Our highly recognized brands include Tempur-Pedic®, Sealy® and
Stearns & Foster® and our popular non-branded offerings consist
of value-focused private label and OEM products. At Tempur Sealy we
understand the importance of meeting our customers wherever and
however they want to shop and have developed a powerful
omni-channel retail strategy. Our products allow for complementary
merchandising strategies and are sold through third-party
retailers, our over 750 Company-owned stores worldwide and our
e-commerce channels. With the range of our offerings and variety of
purchasing options, we are dedicated to continuing to turn our
mission to improve the sleep of more people, every night, all
around the world into a reality.
Importantly, we are committed to carrying out our global
responsibility to protect the environment and the communities in
which we operate. As part of that commitment, we have established
the goal of achieving carbon neutrality for our global wholly owned
operations by 2040.
Investor Relations Contact
Aubrey Moore
Investor Relations
Tempur Sealy International, Inc.
800-805-3635
Investor.relations@tempursealy.com
View original
content:https://www.prnewswire.com/news-releases/tempur-sealy-cleared-to-close-acquisition-of-mattress-firm-302367812.html
SOURCE Tempur Sealy International, Inc.
