Tempur Sealy to buy Houston-based Mattress Firm for $4 billion
Robin Jerstad, San Antonio Express-News
Houston-based Mattress Firm is being acquired by bedding giant Tempur Sealy for about $4 billion, the companies announced Tuesday. Mattress Firm was founded in Houston in 1986 and has expanded to more than 2,300 stores across the U.S. with more than 6,200 employees. The purchase price is slightly above the $3.8 billion paid by South Africa-based Steinhoff International when it bought Mattress Firm in 2016.Steinhoff called off plans to take Mattress Firm public
. The two companies have had a mixed history: In early 2017, Mattress Firm stopped selling Tempur Sealy mattresses after the Kentucky-based company rejected a contract that sought significant economic concessions. Prior to that, Mattress Firm and Tempur Sealy had been business partners for more than a decade, and Mattress Firm accounted for more than 20 percent of Tempur Sealy's global sales.for continuing to advertise Tempur Sealy mattresses after the relationship broke down.
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