Tempur-Pedic Completes Sealy Purchase

LEXINGTON, Ky.-Tempur-Pedic has closed its acquisition of Sealy, and the company's corporate name will be changed to Tempur Sealy International Inc.

The total transaction value is $1.3 billion, and consists of the purchase of all of Sealy's common stock for $2.20 a share and the repayment of all of Sealy's outstanding convertible and non-convertible debt. The name change is to "recognize the transformational nature of this combination," according to a Tempur-Pedic statement. The company will seek stockholder approval for the name change at its annual stockholders meeting in Many.

The combined company's portfolio of brands and its marketing will not be affected by the name change.

Mark Sarvary, Tempur-Pedic's CEO, said, "We remain confident that our shared know-how and expected efficiencies will result in tremendous value. Our focus now is on ensuring that our integration process remains on track and is as seamless as possible for all of our employees, customers and other stakeholders."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.