Tempur Sealy to buy Mattress Firm for about $4 billion, company says

Mattress giant Tempur Sealy announced Tuesday it is acquiring Mattress Firm, the nation's largest mattress retailer, for approximately $4 billion in cash and stocks.

According to Tempur Sealy, the deal is expected to close in the second half of 2024. Mattress Firm will operate as a separate business unit within the larger company after the acquisition goes through, Tempur Sealy said in a statement.

"We are excited by the long-term growth prospects for our global vertically integrated Company," said Tempur Sealy Chairman and CEO Scott Thompson. "Mattress Firm has been a valued retail partner for more than 35 years, and we look forward to welcoming their talented workforce of more than 8,100 employees to the Tempur Sealy family."