Deals
Tempur Sealy to Buy Mattress Firm for About $4 Billion
- Deal combines mattress brands with 3,000 stores globally
- Steinhoff has been shedding business units to pay down debt
A Mattress Firm store in San Francisco, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Tempur Sealy International Inc. agreed to buy Mattress Firm from Steinhoff International Holdings NV in a cash-and-stock deal valued at about $4 billion.
The transaction will combine two well-known brands at a time when consumers are pulling back from pandemic-era splurges on home furnishings. The purchase will be funded by about $2.7 billion of cash and $1.3 billion in stock, the companies said in a statement Tuesday.