Leggett & Platt Sells Prime Foam Unit
Carthage, MO, April 4, 2007--Leggett & Platt Inc said it has sold its Prime Foam unit to Comfort Co. The unit services customers in the bedding, furniture, consumer products, packaging, and medical end markets. In addition to a variety of OEM product offerings, the company markets its products to consumers at retail.
In 2006, Prime Foam generated approximately $200 million in revenues. Terms of the transaction were not disclosed.
This transaction did not include any aspect of Leggett & Platt's Carpet Cushion Division, which it continues to own and operate.
David Haffner, Chief Executive Officer of Leggett & Platt stated, "We are very pleased with the outcome on the Prime Foam sale transaction. I'd like to thank the people within Prime Foam for their hard work over the years and wish them well with their new partners. The proceeds from the sale will be deployed to support L&P management's stated objective to grow our business profitably through emphasis on product innovation, investments in internal growth, and acquisitions."
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