LEXINGTON, Ky., Feb. 18,
2025 /PRNewswire/ -- Somnigroup International Inc.
(NYSE: SGI, "Company" or "Somnigroup"), formerly Tempur Sealy
International, today announced the completion of its name change.
Shares of Somnigroup common stock trade on the New York Stock
Exchange under the ticker symbol "SGI."
Scott Thompson, Somnigroup
Chairman and CEO said, "Somnigroup is the world's largest bedding
company, with superior capabilities in design, manufacturing,
distribution and retail while owning a portfolio of the most highly
recognized brands in the industry.
The name Somnigroup is derived from the Latin words
"somn," meaning sleep, "omni," meaning all, and "group"
to reflect our position as a global provider of sleep solutions
with an integrated omni-channel strategy.
Somnigroup has a portfolio of outstanding businesses
– Tempur Sealy, Dreams and Mattress Firm. Our portfolio of
iconic brands includes Tempur-Pedic®, Sealy®,
Stearns & Foster®, and Sleepy's, in addition to our
private label and OEM products, all diversifying sales streams
across our global platform that allows us to meet consumers
wherever they shop.
"We are committed to providing breakthrough sleep solutions that
meet the diverse sleep needs of consumers all over the world, while
delivering long-term growth for our shareholders. We look forward
to continuing to improve people's lives through better sleep for
the next 100 years and beyond," continued Thompson.
For more information about Somnigroup and its portfolio of
award-winning brands and products, visit: www.Somnigroup.com.
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 completed
Mattress Firm acquisition, including expectations regarding future
performance and integration of Mattress Firm with our business. 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 risks associated with Mattress Firm's
ongoing operations; the ability to successfully integrate Mattress
Firm into Somnigroup'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 Somnigroup
Somnigroup (NYSE: SGI) is the world's largest bedding company,
dedicated to improving people's lives through better sleep. With
superior capabilities in design, manufacturing, distribution and
retail, we deliver breakthrough sleep solutions and serve the
evolving needs of consumers in more than 100 countries worldwide
through our fully-owned businesses, Tempur Sealy, Mattress Firm and
Dreams. Our portfolio includes the most highly recognized brands in
the industry, including Tempur-Pedic®, Sealy® and Stearns &
Foster®, and our global omni-channel platform enables us to meet
consumers wherever they shop, offering a personal connection and
innovation to provide a unique retail experience and tailored
solutions.
We seek to deliver long-term value for our shareholders through
prudent capital allocation, including managing investments in our
businesses. We are guided by our core value of Doing the Right
Thing and committed to our global responsibility to protect the
environment and the communities in which we operate. For more
information, please visit www.Somnigroup.com.
Somnigroup Investor Relations Contact
Aubrey Moore
Investor Relations
Somnigroup International Inc.
800-805-3635
Investor.relations@somnigroup.com
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SOURCE Somnigroup International
