Tempur Sealy International, Inc. to Change its Name to Somnigroup International Inc.

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Tempur Sealy International (NYSE: TPX) has announced it will change its name to Somnigroup International effective February 18, 2025, following its Mattress Firm acquisition. The new name, derived from Latin roots meaning sleep (somn) and all (omni), reflects the company's global omni-channel strategy.

Under the new structure, Mattress Firm, Dreams, and Tempur Sealy will operate as decentralized business units under Somnigroup. Mattress Firm and Dreams will continue as multi-branded retailers, while Tempur Sealy will maintain its manufacturing operations, serving third-party retailers and direct-to-consumer channels.

The company's shares will trade on the New York Stock Exchange under the new ticker symbol SGI. The rebranding aligns with the company's expanded vision to improve lives through better sleep and deliver long-term shareholder growth through innovation and industry expertise.

LEXINGTON, Ky., Feb. 5, 2025 /PRNewswire/ -- In connection with the closing of its acquisition of Mattress Firm, Tempur Sealy International, Inc. (NYSE: TPX, "Company" or "Tempur Sealy") today announced it will change its name to Somnigroup International Inc. ("Somnigroup"), effective February 18, 2025.

Chairman and CEO Scott Thompson said, "We are thrilled to announce a new name to our expanded vision. The name Somnigroup is derived from the Latin somn meaning sleep, omni meaning all, and "group" to represent our omni-channel strategy. The name Somnigroup International reflects our position as a global holding company and provider of sleep solutions with a portfolio of outstanding businesses – Tempur Sealy, Dreams and Mattress Firm – as well as the future direction of the company. We look forward to continuing to improve people's lives through better sleep for the next 100 years and beyond." 

Mattress Firm, Dreams and Tempur Sealy will operate as decentralized business units under Somnigroup. Mattress Firm and Dreams will continue to operate as multi-branded retailers and Tempur Sealy, primarily a manufacturer, will continue to serve third-party retailers as well as Mattress Firm, Dreams and Tempur Sealy direct-to-consumer channels. The Company aims to deliver long-term growth for shareholders while serving the evolving needs of consumers worldwide through innovation, industry expertise and its portfolio of award-winning brands.

At the time of the Company's name change, shares of Somnigroup common stock will trade on the New York Stock Exchange under ticker symbol "SGI".

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 Tempur Sealy'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. 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 Tempur Sealy International, Inc.

Tempur Sealy is committed to improving the sleep of more people, every night, all around the world. As a leading designer, manufacturer, distributor, and retailer of bedding products worldwide, we know how crucial a good night of sleep is to overall health and wellness. Utilizing over a century of knowledge and industry-leading innovation, we deliver award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries.

Our highly recognized brands include Tempur-Pedic®, Sealy® and Stearns & Foster® and our popular non-branded offerings consist of value-focused private label and OEM products. At Tempur Sealy we understand the importance of meeting our customers wherever and however they want to shop and have developed a powerful omni-channel retail strategy. Our products allow for complementary merchandising strategies and are sold through third-party retailers, our 650+ Company-owned stores worldwide and our e-commerce channels.  With the range of our offerings and variety of purchasing options, we are dedicated to continuing to turn our mission to improve the sleep of more people, every night, all around the world into a reality. 

Importantly, we are committed to carrying out our global responsibility to protect the environment and the communities in which we operate. As part of that commitment, we have established the goal of achieving carbon neutrality for our global wholly owned operations by 2040.

Tempur Sealy Investor Relations Contact

Aubrey Moore
Investor Relations
Tempur Sealy International, Inc.
800-805-3635
Investor.relations@tempursealy.com

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SOURCE Tempur Sealy International, Inc.

FAQ

When will Tempur Sealy (TPX) change its name to Somnigroup International?

Tempur Sealy will change its name to Somnigroup International on February 18, 2025.

What will be Somnigroup's new stock ticker symbol after the TPX name change?

The company will trade under the new ticker symbol 'SGI' on the New York Stock Exchange.

How will Mattress Firm operate under the new Somnigroup structure?

Mattress Firm will operate as a decentralized business unit under Somnigroup, continuing to function as a multi-branded retailer.

What is the meaning behind the new Somnigroup name?

The name Somnigroup is derived from the Latin words 'somn' (meaning sleep) and 'omni' (meaning all), with 'group' representing the company's omni-channel strategy.

How will the TPX reorganization affect Tempur Sealy's manufacturing operations?

Tempur Sealy will continue its manufacturing operations, serving third-party retailers as well as Mattress Firm, Dreams, and direct-to-consumer channels.