By Nate Wolf

Somnigroup International has agreed to acquire Leggett & Platt, the maker of furniture components, in an all-stock deal worth $2.5 billion.

Somnigroup, which owns bedding brands and retailers such as Tempur-Pedic, Sealy, and Mattress Firm, is adding Leggett & Platt to more closely integrate its supply chain and expand into non-bedding industries.

Leggett & Platt stock jumped 5.7% in premarket trading Monday. The company had a market capitalization of $1.36 billion as of Friday's close. Shares of Somnigroup, which had a $16.4 billion market cap, fell 1.3%. Stock futures were down before the opening bell.

Somnigroup expects the acquisition to add to adjusted earnings per share within the first year after closing. The company also expects annual cost synergies of $50 million in terms of adjusted earnings before interest, taxes, depreciation, and amortization after three years.

Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt stock. Somnigroup will own around 91% of the combined company following the deal, which is expected to close by the end of 2026.

Write to Nate Wolf at nate.wolf@barrons.com

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April 13, 2026 07:43 ET (11:43 GMT)

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