Urethane Blog
Deal Done!
August 30, 2026
Somnigroup completes $2.3B Leggett & Platt acquisition
By Larry Adams
August 27, 2026 | 11:21 am CDT
DALLAS — Somnigroup International Inc. has completed merger with Leggett & Platt to create a combined company that operates over 170 manufacturing facilities across 37 countries worldwide and is supported by a global workforce of more than 36,000 colleagues.
Chairman and CEO Scott Thompson said, “Today (August 26) 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.”
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.
Tyson Hagale has been appointed as president of Leggett & Platt, effective immediately. Hagale will report to Karl Glassman, Chief Executive Officer of Leggett & Platt, and will have oversight responsibility for all of Leggett & Platt.
Sign Up for Email Updates
Everchem Updates Archive