follow us

Leggett & Platt selling Prime Foam unit

Carthage,Mo.— Components supplier Leggett & Platt will sell its Prime Foam operations and exit the polyurethane foam business for furniture and bedding. David Haffner, president and ceo, said that while Prime Foam is performing well, the company’s market position is small and the business doesn’t fit into the company’s long-term strategic plan.

The sale, which has annual revenues of about $200 million, represents the largest divestiture in Leggett’s history. The foam supplier’s new owner is Comfort Co., which is controlled by the Greenwich, Conn.,-based private equity firm Catterton Partners.

Leggett said the deal should result in a pretax gain of about $24 million or 6 cents per share. It also will reduce the company’s full-year operating earnings by about 4 cents per share. The company said it would retain its foam operations that produce carpet underlay.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Vegas Performing with PureCare's Lonnie Scheps

    Camera Icon More Videos