New Multibillion-Dollar Company Headquarters in North Texas
North Texas is getting a new headquarters from a new multibillion-dollar company. Somnigroup International — created with Tempur Sealy International recently after acquiring Mattress Firm — will put a new hub in the Dallas area, according to a statement in an email from the company.
Somnigroup, which is publicly traded, has a market value of roughly $13 billion and posted sales of about $1.6 billion in the first quarter. The acquisition deal, valued at about $5 billion, wrapped up in February.
Company Structure and Location
“With the acquisition of Mattress Firm, we have moved to a holding company structure,” Somnigroup said in the emailed statement. “To clearly delineate the different organizational units, we are maintaining Tempur Sealy’s HQ and staff in Lexington (Kentucky) and Mattress Firm’s HQ and staff in Houston and are establishing a new HQ location in Dallas for corporate staff.”
The company did not provide further details on the move.
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The new hub is yet another addition to the growing list of businesses that have put key operations in North Texas. The area offers a growing population that’s bolstering its talent pool while it benefits from the region’s reputation for being friendly to corporations.
Other Companies in North Texas
Earlier this year, Care.com, which provides a digital hub for finding family care and related services, relocated its headquarters to North Texas from Austin. The company, which is part of New York conglomerate IAC, has annual sales of over $350 million.
Public companies such as McKesson and Charles Schwab have relocated hubs from California, along with private firms such as tech businesses in Indiana and New Jersey.
Somnigroup’s Operations
At Somnigroup, Mattress Firm has over 2,000 owned retail stores across 45 states. The company also has a brand portfolio with a diversified lineup of bedding products and a global manufacturing footprint.
Businesses are navigating headwinds as Dallas Fed reports survey data.
The planned deal was the first outlined since Trump began his stutter-step efforts to rewire the global economy.
Conclusion
In conclusion, Somnigroup International’s decision to establish a new headquarters in North Texas is a significant development for the region. The company’s presence is expected to bring new jobs and economic growth to the area, and its location in Dallas will provide access to a talented workforce and a business-friendly environment.
FAQs
Q: What is Somnigroup International?
A: Somnigroup International is a multibillion-dollar company created through the acquisition of Mattress Firm by Tempur Sealy International.
Q: Where will Somnigroup International’s new headquarters be located?
A: The new headquarters will be located in the Dallas area.
Q: What is the market value of Somnigroup International?
A: The market value of Somnigroup International is roughly $13 billion.
Q: How many retail stores does Mattress Firm have?
A: Mattress Firm has over 2,000 owned retail stores across 45 states.
