Somnigroup to Acquire Supplier Leggett & Platt in $2.5 Billion Deal

CEO says the deal helps navigate supply chain issues, diversify revenue

By Nicholas G. Miller
Updated April 13, 2026 9:27 am ET

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Two Mattress Firm stores stand on opposite sides of a street in Encinitas, California. The addition of Leggett & Platt, which also produces components for cars, would expand Somnigroup’s business beyond bedding. mike blake/Reuters

Somnigroup (SGI) has agreed to acquire components manufacturer Leggett & Platt (LEG) in an all-stock deal worth $2.5 billion, succeeding in a months-long effort to buy a key supplier for its bedding empire.

Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt common stock they own. Leggett & Platt’s shareholders will own about 9% of the combined company.

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