- The Company to Provide Comments in
Connection with the U.S. Federal Trade Commission Challenge of
Proposed Acquisition of Mattress Firm
LEXINGTON, Ky., July 3, 2024
/PRNewswire/ -- Tempur Sealy International, Inc. (NYSE:
TPX, "Company" or "Tempur Sealy") will hold a conference call on
Monday, July 8th, at 8:00 a.m.
Eastern Time to discuss the Company's response to the filing of a
complaint by the U.S. Federal Trade Commission ("FTC") challenging
the proposed combination of Tempur Sealy and Mattress Firm Group
Inc. ("Mattress Firm"). As the acquisition is being challenged in
court, the Company's commentary is limited and the Company will not
take questions at this time.
The call will be webcast and can be accessed on the Company's
investor relations website at investor.tempursealy.com. After
the conference call, a webcast replay will remain available on the
investor relations section of the Company's website for 30
days.
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,"
"expects," "plans," "proposed," 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 outcome of the pending litigation with the FTC, the
expected Mattress Firm acquisition including expectations regarding
post-closing supply agreements, future performance, integration of
acquired companies with our business and the ability of the Company
to close the acquisition on the timeline indicated or at all as
well as the expected divestiture of Sleep Outfitters. 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 satisfaction of
closing conditions prior to consummation of the acquisition,
including the outcome of the pending litigation with the FTC, or
the ability to obtain the required financing for the acquisition;
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 services 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 the Company
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 750+ 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.
Investor Relations Contact
Aubrey Moore
Investor Relations
Tempur Sealy International, Inc.
Investor.relations@tempursealy.com
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SOURCE Tempur Sealy International, Inc.