By Denny Jacob
Leggett & Platt agreed to sell its aerospace products group for a cash purchase price of $285 million.
The company, which makes furniture and engineered components and products for homes, offices, automobiles, and commercial aircraft, will sell the group to affiliated funds managed by Tinicum.
The transaction is expected to close in 2025. The after-tax cash proceeds are expected to be about $240 million.
Leggett & Platt said the divestiture is part of an ongoing strategic review aimed at determining which businesses are the right long-term fit for the company.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 02, 2025 08:15 ET (12:15 GMT)
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