The Federal Trade Commission has unanimously voted to bring a lawsuit against mattress maker Tempur Sealy to block its $4 billion acquisition of Mattress Firm, saying the deal would allow the world’s largest mattress supplier to suppress competition that would result in higher prices for shoppers.
FILE - A passer-by walks near the front of a Tempur-Pedic mattress store location, May 9, 2023, in Dedham, Mass. The Federal Trade Commission has unanimously voted to bring a lawsuit against mattress maker Tempur Sealy to block its $4 billion acquisition of Mattress Firm, saying the deal would allow the worlds largest mattress supplier to suppress competition that would result in higher prices for shoppers.
The deal would also enable Tempur Sealy’s mattress brands — which include Stearns & Foster and Tempur-Pedic — to dominate the market over those of its competitors, the FTC said. By cutting off rivals’ access to Mattress Firm as a retail channel, Tempur Sealy’s acquisition could result in higher mattress prices, decreased product quality and choice, or reduced innovation, FTC said.
In a statement posted on its corporate website, Tempur Sealy said it was “disappointed” that it initiated litigation and noted it has been working constructively with the FTC to secure regulatory approval for this transaction.
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