AcquisitionsMay 8, 2026, 07:07 AM
Somnigroup to Acquire Leggett & Platt for $2.5B; Q1 Net Income $104.2M
AI Summary
Somnigroup International announced a definitive agreement to acquire Leggett & Platt for approximately $2.5 billion in an all-stock transaction, expected to close by year-end 2026. This strategic move comes as the company reported strong first-quarter 2026 financial results, including a significant increase in net sales and a return to profitability. The results reflect the continued integration and performance of the Mattress Firm acquisition, finalized in February 2025.
Key Highlights
- Somnigroup entered a definitive agreement to acquire Leggett & Platt for approximately $2.5 billion in an all-stock transaction.
- Q1 2026 net sales increased 12.3% to $1,801.5 million from $1,604.7 million year-over-year.
- Q1 2026 net income was $104.2 million, a significant turnaround from a $33.1 million loss year-over-year.
- Diluted EPS for Q1 2026 was $0.49, compared to $(0.17) in Q1 2025.
- The Mattress Firm segment contributed $885.9 million in net sales for Q1 2026.
- Net cash provided by operating activities surged 131.7% to $246.5 million in Q1 2026.
- Total debt, net, decreased to $4,548.5 million as of March 31, 2026.
Price Impact
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