Tempur Sealy Completes Name Change to Somnigroup International

Rhea-AI Summary

Tempur Sealy International has completed its transformation to Somnigroup International (NYSE: SGI), now trading under the new ticker symbol 'SGI'. The company, positioned as the world's largest bedding company, derives its new name from Latin roots signifying sleep ('somn') and all-encompassing ('omni').

The company's portfolio includes major brands like Tempur-Pedic, Sealy, Stearns & Foster, and Sleepy's, alongside private label and OEM products. Somnigroup's integrated structure encompasses Tempur Sealy, Dreams, and Mattress Firm operations, supporting a global omni-channel strategy to serve consumers across all shopping platforms.

Positive

• World's largest bedding company with comprehensive design, manufacturing, distribution, and retail capabilities
• Diversified sales streams through multiple recognized brands and private label products
• Integrated omni-channel strategy with global market presence

Negative

• Integration risks associated with Mattress Firm acquisition
• Exposure to retail sector challenges and consumer confidence fluctuations
• Vulnerability to macroeconomic conditions in U.S. and international markets

LEXINGTON, Ky., Feb. 18, 2025 /PRNewswire/ -- Somnigroup International Inc. (NYSE: SGI, "Company" or "Somnigroup"), formerly Tempur Sealy International, today announced the completion of its name change. Shares of Somnigroup common stock trade on the New York Stock Exchange under the ticker symbol "SGI."

Scott Thompson, Somnigroup Chairman and CEO said, "Somnigroup is the world's largest bedding company, with superior capabilities in design, manufacturing, distribution and retail while owning a portfolio of the most highly recognized brands in the industry.

The name Somnigroup is derived from the Latin words "somn," meaning sleep, "omni," meaning all, and "group" to reflect our position as a global provider of sleep solutions with an integrated omni-channel strategy.

Somnigroup has a portfolio of outstanding businesses – Tempur Sealy, Dreams and Mattress Firm. Our portfolio of iconic brands includes Tempur-Pedic^®, Sealy^®, Stearns & Foster^®, and Sleepy's, in addition to our private label and OEM products, all diversifying sales streams across our global platform that allows us to meet consumers wherever they shop.

"We are committed to providing breakthrough sleep solutions that meet the diverse sleep needs of consumers all over the world, while delivering long-term growth for our shareholders. We look forward to continuing to improve people's lives through better sleep for the next 100 years and beyond," continued Thompson.

For more information about Somnigroup and its portfolio of award-winning brands and products, visit: www.Somnigroup.com.

Forward-Looking Statements

This press release contains statements that may be characterized as "forward-looking" within the meaning of the federal securities laws. Such statements might include information concerning one or more of the Company's plans, guidance, objectives, goals, strategies, and other information that is not historical information. When used in this release, the words "will," "targets," "expects," "anticipates," "plans," "proposed," "intends," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the Company's expectations regarding the completed Mattress Firm acquisition, including expectations regarding future performance and integration of Mattress Firm with our business. Any forward-looking statements contained herein are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct.

Numerous factors, many of which are beyond the Company's control, could cause actual results to differ materially from any that may be expressed herein as forward-looking statements. These potential risks include risks associated with Mattress Firm's ongoing operations; the ability to successfully integrate Mattress Firm into Somnigroup's operations and realize synergies from the transaction; the possibility that the expected benefits of the acquisition are not realized when expected or at all; general economic, financial and industry conditions, particularly conditions relating to the financial performance and related credit issues present in the retail sector, as well as consumer confidence and the availability of consumer financing; the impact of the macroeconomic environment in both the U.S. and internationally on Mattress Firm and the Company; uncertainties arising from national and global events; industry competition; the effects of consolidation of retailers on revenues and costs; and consumer acceptance and changes in demand for Mattress Firm's and the Company's products and the factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and the Quarterly Report on Form 10-Q for the period ended June 30, 2024. There may be other factors that may cause the Company's actual results to differ materially from the forward-looking statements. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

About Somnigroup

Somnigroup (NYSE: SGI) is the world's largest bedding company, dedicated to improving people's lives through better sleep. With superior capabilities in design, manufacturing, distribution and retail, we deliver breakthrough sleep solutions and serve the evolving needs of consumers in more than 100 countries worldwide through our fully-owned businesses, Tempur Sealy, Mattress Firm and Dreams. Our portfolio includes the most highly recognized brands in the industry, including Tempur-Pedic®, Sealy® and Stearns & Foster®, and our global omni-channel platform enables us to meet consumers wherever they shop, offering a personal connection and innovation to provide a unique retail experience and tailored solutions.

We seek to deliver long-term value for our shareholders through prudent capital allocation, including managing investments in our businesses. We are guided by our core value of Doing the Right Thing and committed to our global responsibility to protect the environment and the communities in which we operate. For more information, please visit www.Somnigroup.com.

Somnigroup Investor Relations Contact

Aubrey Moore
Investor Relations
Somnigroup International Inc.
800-805-3635
Investor.relations@somnigroup.com

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SOURCE Somnigroup International

FAQ

Why did Tempur Sealy change its name to Somnigroup International (SGI)?

The name change reflects the company's position as a global sleep solutions provider, with 'Somnigroup' derived from Latin words 'somn' (sleep) and 'omni' (all), representing their integrated omni-channel strategy.

What brands are included in Somnigroup International's (SGI) portfolio?

SGI's portfolio includes Tempur-Pedic, Sealy, Stearns & Foster, Sleepy's, along with private label and OEM products. The company also owns Tempur Sealy, Dreams, and Mattress Firm businesses.

What are the main risks facing Somnigroup International (SGI) after the Mattress Firm acquisition?

The main risks include challenges in integrating Mattress Firm operations, realizing expected synergies, retail sector issues, consumer confidence fluctuations, and macroeconomic conditions impact.

How does Somnigroup International (SGI) distribute its products?

SGI employs an integrated omni-channel strategy, utilizing various distribution channels including manufacturing, retail, and direct-to-consumer platforms to meet customers wherever they shop.