Tempur Sealy International Inc will change its name to Somnigroup International Inc, effective February 18, 2025. This announcement follows its acquisition of Mattress Firm Group Inc.
Chairman and CEO Scott Thompson says in a release, “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.”
In connection with the closing of the Mattress Firm acquisition, the company is expanding its board of directors through the appointment of Peter Sachs.
