Tempur Sealy to change name to Somnigroup, ticker to ‘SGI’

In connection with the closing of its acquisition of Mattress Firm, Tempur Sealy International (TPX) announced it will change its name to Somnigroup (SGI) International, effective February 18. 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”. 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.” The company added: “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.”