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Profile of Leggett and Platt: Rapid Growth Through Acquisition

  • ID: 38740
  • Company Profile
  • January 2002
  • 22 pages
  • Textiles Intelligence Ltd.
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Research report profiling Leggett and Platt, a US-based ssupplier of components to the bedding, furnishing and automotive industries.

The company is now a major manufacturer and supplier of textiles. The report assesses the company's development, current business strategies and outlook for the future.
Note: Product cover images may vary from those shown
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The Company
Corporate development
Corporate structure
Products and markets
Manufacturing operations
Share ownership
Acquisitions and Strategic Business Exchanges
Textile-Related Businesses: Residential Furnishings
Consumer products unit
Textile-Related Businesses: Hanes Industries
Other Textile-Related Businesses
Buffalo Batt and Felt
L & P Urethane Division
Financial Performance
Financial performance: 2001
Financial performance: first six months of 2002
Statistical Appendix

List of tables

Table 1: Leggett & Platt: growth in sales and earnings, 1967-2001
Table 2: Leggett & Platt: percentage of total sales by company segment, 2001
Table 3: Leggett & Platt: business segments and selected business units, 2002
Table 4: Leggett & Platt: number of acquisitions completed, 1995-2001
Table 5: Leggett & Platt: acquisitions of fabric manufacturers, 1997-2001
Table 6: Leggett & Platt: acquisitions of US fibre manufacturers, 1996-2001
Table 7: Hanes Industries: acquisitions, 1957-2000
Table 8: Leggett & Platt: financial performance, 1996-2001
Table 9: Leggett & Platt: financial summary by segment, 1996-2001
Table 10: Leggett & Platt: external and inter-segment sales, 2001
Table 11: Leggett & Platt: balance sheet, 2000 and 2001

Note: Product cover images may vary from those shown
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Through a brisk acquisition programme, Leggett and Platt—a US-based supplier of components to the bedding, furnishing and automotive industries—has become a major manufacturer and supplier of textiles.

Between 1999 and 2001 Leggett & Platt bought a total of 60 companies. In the textiles area, it acquired 12 significant fabric manufacturers in Europe and the Americas and six US fibre operations between 1996 and 2001.

Leggett & Platt operates in five business segments: Residential Furnishings, Commercial Furnishings, Aluminum Products, Industrial Materials, and Specialized Products.

The company has over 300 manufacturing plants, distribution centres and other facilities across North America and abroad.

Most of the company’s textile-related acquisitions and businesses are grouped within the residential furnishings segment of the company.

Hanes Industries, for example—acquired by Leggett & Platt in 1993—is a leading supplier of nonwoven and woven textile construction materials for furniture, bedding and home furnishings.

Trade sales have grown by 18% a year since 1967—when Leggett & Platt became a public company. But in 2001 sales fell for only the second time in 34 years. In the first half of 2002 the company managed to achieve modest increases in sales in a number of business units—reflecting improved conditions in the consumer sector of the US economy. But the future pace of recovery in the US consumer sector remains uncertain, and the company is reviewing its policy of continuous expansion through “bolt-on” buy-outs.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown