Global mattress manufacturing and retail group Somnigroup International Inc. has announced that it has completed its previously announced combination with Leggett & Platt, Incorporated, a diversified manufacturer of engineered components and products.
The combined company today operates over 170 manufacturing facilities across 37 countries worldwide and is supported by a global workforce of more than 36,000 colleagues.
The combination was an all-stock transaction valued at approximately $2.3 billion based on Somnigroup’s closing share price on August 25, 2026 and inclusive of Leggett & Platt’s existing indebtedness.
Leggett & Platt shareholders received 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt common stock they owned. Upon completion of the transaction, former Leggett & Platt shareholders own approximately 9% of the combined company on a fully diluted basis.
Chairman and CEO Scott Thompson said: “Today marks an exciting milestone for Somnigroup as we complete the combination with Leggett & Platt. Building on nearly 50 years of collaboration, we are bringing together complementary businesses with shared values and a commitment to customer service and product innovation. By combining Leggett & Platt’s engineering expertise and manufacturing capabilities with Somnigroup’s global scale and industry-leading brands, we are fortifying our foundation for future growth and long-term value creation.
“The addition of Leggett & Platt deepens our vertical integration, secures a critical part of our supply chain, and adds a highly cash-generative business to our portfolio. We thank the employees of both organizations for their dedication and support throughout this process, as well as our suppliers, advisors, and shareholders for their continued partnership and confidence in our team.”
Leggett & Platt Chairman and CEO Karl Glassman said: “For more than 140 years, Leggett & Platt has earned its reputation through engineering excellence, operational discipline, and an unwavering commitment to our customers, and I am incredibly proud of our teams for building that legacy. Joining Somnigroup gives our business the scale and resources to reach new markets and new opportunities, and I am confident this combination creates a stronger future for our employees, our customers, and the industry we have served for generations.”
In other news, Somnigroup International Inc. has announced that Tyson Hagale has been appointed as President of Leggett & Platt, effective immediately.
Mr. Hagale will report to Karl Glassman, Chief Executive Officer of Leggett & Platt. Mr. Hagale will have oversight responsibility for all of Leggett & Platt.
“I am delighted that Tyson has been elevated to this new role at the company,” stated Mr. Glassman. “Over the course of his 25-year career at Leggett & Platt, Tyson has attained broad experience across multiple facets of our business, including mergers and acquisitions, strategic planning, and operational leadership.
“During the last five years while serving as President of our Bedding Products segment, he played an instrumental role in executing a major restructuring to improve profitability in the face of industry headwinds. Tyson is well-suited to help me lead Leggett & Platt as we embark on this exciting new chapter as part of the Somnigroup family.”
“Naming Tyson as President of Leggett & Platt is reflective of Somnigroup’s deep respect for the legacy Leggett & Platt management team in general and Tyson’s accomplishments specifically,” commented Scott Thompson, Chairman and CEO of Somnigroup.
“The Somnigroup team and I have worked with Tyson for many years. He is well-respected in the bedding industry and, importantly, understands the Leggett & Platt business beyond bedding. His commitment to the core values that have guided Leggett & Platt for over 100 years will ensure the continued success of the company under his enhanced leadership role.”
