by Tempur Sealy International is offering an update on the acquisition of Mattress Firm: It now expects that the FTC will complete its review by the end of the second quarter. Consistent with previous expectations, the company continues to expect the transaction to close in mid-to-late 2024.
Tempur Sealy and Mattress Firm continue to make joint progress in planning for post-closing, including solidifying Mattress Firm’s key supplier relationships ahead of the expected closing. Since announcing the acquisition, Tempur Sealy has executed post-closing supply agreements with six other mattress manufacturers, including Purple Innovation Inc. These contracts are consistent with the company’s plan for Mattress Firm to continue as a multibranded retailer.
“Since announcing the acquisition in May, Tempur Sealy has signed post-closing supply agreements with numerous existing Mattress Firm suppliers, as well as a new supply agreement with a manufacturer not currently supplying Mattress Firm,” says Tempur Sealy Chairman and CEO Scott Thompson. “We have engaged a critical mass of suppliers to provide a robust and diverse offering of high-quality bedding products to Mattress Firm customers. These developments are consistent with our plan and expectation that Mattress Firm will continue as a multibranded retailer post-closing. We look forward to working with quality suppliers and the Mattress Firm organization to facilitate continued innovation and improve the sleep of consumers.”
