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and future of the company became management's primary objective. Following an extensive evaluation of the company and its potential, Cornell and his management partners concluded that
Leggett & Platt's best opportunities for profitable growth lay in a strategy of specializing in manufacturing, marketing, and distributing a broad and growing line of components and related products, first nationally and eventually on a worldwide basis. Key drivers of future sales and earnings would include aggressive internal growth initiatives, coupled with an active and ongoing acquisition program.
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Demand for the company's improved bedsprings was rising, and a second plant was built in
Carthage in 1925. The new, much larger plant was located next to a railroad to allow for expanded shipments of products and supplies. In 1942, an additional factory was built in Winchester, Kentucky, which was subsequently consolidated with the Louisville plant. For some time, Texas had proven to be a main market outlet, and in 1947, a major factory was built in Ennis, Texas. By 1947, Leggett & Platt consisted of 4 plants and 500 employees.
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579:, by contrast, refer to the core system of wire springs that, along with various types of foam and other padding materials, comprise the insides of today's mattress. The mattress is usually coupled with a box spring to create a sleep set. Innersprings can be coiled springs laced together, continuous coil springs, or individually encased springs, that support a person sleeping on the mattress.
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The company built its first factory and offices in
Carthage in 1890. The workforce at that time consisted of the two partners and five employees. Soon after completion of the Carthage plant, a second factory was built in Louisville, Kentucky. During the next 50 years, three more factories were built.
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referred to cone-shaped wire coiled springs, attached to a wooden slat foundation, used to support then-popular mattresses. These mattresses were typically made of horse hair, corn husks, cotton, feathers, or another soft material. Early bedsprings functioned similarly to today's box springs in their
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In 1960, Harry M. Cornell Jr., J.P. Leggett's grandson, was elected
President and CEO of the company, taking over for his father (who was Leggett's son-in-law). The company's total sales in 1960 were approximately $ 7 million from three states: Kentucky, Texas, and Missouri. Determining the course
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Even greater success followed, and
Leggett & Platt became known as “the components people.” Leggett & Platt stock was first traded over the counter in 1967. Twelve years later, on June 25, 1979, top management was present in New York City to witness the stock's first day listed on the New
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The
Carthage market for their new product was very limited. To expand the market to a wider region, Platt and George Leggett, brother of J. P. Leggett, would load a horse-drawn wagon with bedsprings and travel to surrounding communities. Often, to conserve space, they would load the springs and
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In 1883 in
Carthage, Missouri, J.P. Leggett developed a new type of bedspring consisting of single cone spring wire coils, formed and interlaced, then mounted on a wood slat base. The bedspring could then be used as a base for the then-popular cotton, feather, or horsehair mattresses. Needing
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1960: Harry M. Cornell, Jr., (grandson of J.P. Leggett) becomes president and CEO; he begins implementing a new corporate strategy to broaden the line of component products for the bedding and furniture industries, expand geographically, and offer compatible products directly to furniture
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expertise in manufacturing and production, he recruited his soon-to-be brother-in-law, C.B. Platt, whose father owned and operated Platt Plow Works, into the partnership. Together, they produced the components of their
Leggett & Platt bedspring, which was patented in 1885.
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mattresses, which were relatively new products in the industry and growing in popularity. Thereafter, the company slowly began to diversify its products within the bedding industry by producing rollaway beds and folding metal cots, along with bed frames and bed rails.
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that designs and produces various engineered components and products that can be found in homes and automobiles. The firm was founded in 1883, and consists of 15 business units, 20,000 employee-partners, and 135 manufacturing facilities located in 18 countries.
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1883: Joseph P. Leggett develops and patents the first successful spiral steel coil bedspring, then forms a business partnership with
Cornelius B. Platt, a blacksmith who operates the C.D. Platt Plow Works plant in Carthage,
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Although available in various models and continuously improved upon, bedsprings were practically the only product
Leggett & Platt offered until 1933. However, in that year the company began to manufacture springs for
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2019: Acquired Elite Comfort Solutions for $ 1.25 billion, the largest acquisition to date, adding specialty foam and private label finished mattress capabilities and expanding its position in the bedding
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1890: The first factory and offices are built in Carthage, MO. The workforce consists of the 2 partners and 5 employees. Harry Platt, a brother of C.B. Platt, opens a franchise factory in Louisville,
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1885: Leggett receives a patent for improvements on the coiled bedspring. J.P. Leggett and C.B. Platt begin manufacturing coiled bedsprings at the Platt Plow Works plant.
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slats separately into the wagon and assemble them in a store or on an adjacent sidewalk. The partnership prospered, and the business was incorporated in 1901.
997:"Signature Bank, SolarEdge Technologies and FactSet Research Systems Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600"
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Leggett & Platt is a signature sponsor of the Seena Magowitz Foundation, helping support the mission to eradicate the world of pancreatic cancer.
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1901: The partnership of J.P. Leggett and C.B. Platt is incorporated under the name “Leggett & Platt Spring Bed & Manufacturing Company.”
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https://simplywall.st/stocks/us/consumer-durables/nyse-leg/leggett-platt/news/leggett-platts-nyseleg-dividend-will-be-reduced-to-005
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679:) of 50,000 shares of stock (at $ 10 per share) and $ 1 million of convertible subordinated debentures occurs; the stock is listed
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support of a mattress. However, box springs are rather rigid in structure, while bedsprings provide a more flexible surface.
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Steven K. Henderson, EVP and President, Specialized Products and Furniture, Flooring, & Textile Products Segments
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https://www.prnewswire.com/news-releases/leggett--platt-appoints-karl-glassman-as-president-and-ceo-302151255.html
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York Stock Exchange. In 1999, the company became part of the S&P 500 Index.
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1976: Leggett & Platt exceeds the $ 100 million sales for the first time.
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https://leggett.gcs-web.com/static-files/1b1a6024-bb63-4186-b980-e8cb5d5c42aa
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Today, Leggett & Platt has 135 manufacturing facilities in 18 countries.
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of 50,000 shares of stock at a price of $ 10 per share; the stock is traded
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1977: Construction begins on a new corporate headquarters outside Carthage.
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Energizer Household Products Division of Energizer Holdings
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2016: Reset to strategic direction announced in September.
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1990: Revenues exceed $ 1 billion for the first time.
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As of May 2024, senior corporate executives included:
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Business data for Leggett & Platt, Incorporated:
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2007: New strategic direction announced in November.
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Scott S. Douglas, SVP General Counsel and Secretary
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49:. Unsourced material may be challenged and removed.
699:1979: Leggett & Platt is listed on the NYSE (
686:1971: Leggett & Platt stock is listed on the
706:1983: Leggett celebrates 100 years of operation.
657:1933: Leggett & Platt begins to manufacture
1346:Companies listed on the New York Stock Exchange
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1033:. Seena Magowitz Foundation. 22 November 2014
887:2024 - Leggett slashes the dividend to $ 0.05
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1031:"Major Sponsors - Seena Magowitz Foundation"
626:J.P. Leggett's original bedspring and patent
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753:J.P. Leggett & C.B. Platt, Partnership
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1351:Manufacturing companies based in Missouri
109:Learn how and when to remove this message
874:1971 – Leggett's stock is listed on the
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738:Executive leadership: past & present
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341:Susan R. McCoy, SVP Investor Relations
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664:1942: Leggett & Platt survives
47:adding citations to reliable sources
712:1999: Leggett is included in the
675:1967: Leggett & Platt's IPO (
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382:Retired President, CEO, Director
347:Christina Ptasinski, SVP and CHRO
179:Residential Bedding and Furniture
122:Leggett & Platt, Incorporated
1154:Chittenden & Eastman Company
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880:1979 – Leggett is listed on the
668:by working on defense contracts.
564:At the time of their invention,
332:Karl Glassman, CEO and President
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1356:1883 establishments in Missouri
614:Innerspring mattress components
34:needs additional citations for
1361:1960s initial public offerings
338:Benjamin M. Burns, EVP and CFO
16:American manufacturing company
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884:, trading under symbol "LEG"
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193:; 141 years ago
864:1967 – Leggett & Platt
480:Retired Chairman & CEO
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1298:Tempur Sealy International
559:Bedspring vs. Innerspring
399:Illinois Tool Works, Inc.
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1005:S&P Dow Jones Indices
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793:George S. Beimdiek, Sr.
483:Software Spectrum, Inc.
350:Tammy Trent, SVP and CAO
919:Sept. 15, 1995: 2-for-1
907:Sept. 29, 1978: 3-for-2
882:New York Stock Exchange
701:New York Stock Exchange
677:initial public offering
922:Jun. 15, 1998: 2-for-1
916:Jun. 15, 1992: 2-for-1
913:Mar. 14, 1986: 3-for-2
910:Aug. 26, 1983: 2-for-1
904:Jan. 15, 1973: 3-for-2
809:Harry M. Cornell, Jr.
801:Harry M. Cornell, Sr.
703:), stock symbol "LEG."
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460:Joseph W. McClanathan
385:Flowserve Corporation
275:US$ 253 million (2020)
258:US$ 280 million (2020)
901:May 13, 1969: 5-for-3
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488:Srikanth Padmanabhan
396:Retired Executive VP
58:"Leggett & Platt"
1308:Stearns & Foster
1259:Sleep Country Canada
841:J. Mitchell Dolloff
593:The Platt Plow Works
455:Leggett & Platt
432:Manuel A. Fernandez
427:Leggett & Platt
424:CEO & President
418:J. Mitchell Dolloff
413:Qurate Retail Group
311:(L&P), based in
183:Industrial Materials
43:improve this article
1286:Chattam & Wells
1189:Leggett & Platt
1008:. December 3, 2021.
309:Leggett & Platt
281:Number of employees
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777:J.P. Leggett, Jr.
731:S&P MidCap 400
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511:Masco Corporation
438:Managing director
390:Robert E. Brunner
355:Board of directors
324:Leggett management
313:Carthage, Missouri
222:Karl Glassman(CEO)
210:Carthage, Missouri
181:Automotive Seating
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1237:Tuft & Needle
1144:Boll & Branch
977:Missing or empty
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849:Karl G. Glassman
833:Karl G. Glassman
825:David S. Haffner
748:Years of Service
714:S&P 500 Index
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446:Karl G. Glassman
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494:Vice-president
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32:This article
30:
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21:
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1320:Therm-a-Rest
1313:Tempur-Pedic
1276:Sleep Number
1254:Sit 'n Sleep
1188:
1149:Casper Sleep
1035:. Retrieved
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991:
979:|title=
956:
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927:Philanthropy
894:stock splits
891:
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733:in December.
666:World War II
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576:Innersprings
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540:J.P. Leggett
452:Retired CEO
441:SI Ventures
327:
317:manufacturer
308:
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239:4.28 billion
206:Headquarters
136:Company type
105:
99:January 2009
96:
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41:Please help
36:verification
33:
1249:Simba Sleep
1214:Savoir Beds
1174:Helix Sleep
1164:Eight Sleep
1088:SEC filings
892:History of
769:C.B. Platt
659:innerspring
604:innerspring
166:S&P 600
1340:Categories
1291:Spring Air
1281:Spring Air
1269:Endy Sleep
1222:Beautyrest
1037:2024-01-05
938:References
844:2022–2024
836:2016–2021
828:2006–2015
820:1999–2006
812:1960–1999
804:1953–1960
796:1938–1953
788:1933–1938
780:1929–1933
772:1921–1929
764:1901–1921
756:1883–1901
745:Executive
566:bedsprings
548:C.B. Platt
522:Principal
365:Joined In
265:Net income
218:Key people
69:newspapers
1194:Lo Monaco
1184:King Koil
859:LEG stock
651:Kentucky.
644:Missouri.
502:Jai Shah
368:Position
362:Director
168:component
148:Traded as
1325:Vispring
1199:McRoskey
1132:Mattress
970:cite web
638:Timeline
371:Company
176:Industry
1244:Shifman
1232:Simmons
1204:Pikolin
1169:Hästens
726:market.
672:stores.
298:leggett
293:Website
286:approx.
227:Revenue
196: (
188:Founded
159::
83:scholar
1209:Saatva
1093:Yahoo!
1083:Google
876:NASDAQ
688:NASDAQ
241:(2020)
212:, U.S.
140:Public
85:
78:
71:
64:
56:
1303:Sealy
1264:Bloom
1227:Serta
1159:Dorel
1000:(PDF)
519:2005
505:2019
491:2018
477:2002
463:2005
449:2002
435:2014
421:2020
407:2019
393:2009
379:2019
90:JSTOR
76:books
1179:IKEA
983:help
300:.com
237:US$
198:1883
191:1883
157:NYSE
62:news
866:IPO
161:LEG
45:by
1342::
1002:.
974::
972:}}
968:{{
896::
1124:e
1117:t
1110:v
1040:.
985:)
981:(
964:.
716:.
683:.
200:)
112:)
106:(
101:)
97:(
87:·
80:·
73:·
66:·
39:.
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