Sleep Country Canada has acquired all of Sleep Number’s assets substantially following a competitive, court-supervised sale process. The transaction marks Sleep Country’s entry into the United States and creates a combined retail network of more than 800 locations. Financial terms of the acquisition were not disclosed.
The combination positions Sleep Country’s Family of Brands as the world’s second-largest sleep retailer, according to the company.
Sleep Country plans to combine its retail operations and customer-focused sales model with Sleep Number’s personalized sleep technology and product innovation. The acquisition expands Sleep Country beyond its established Canadian market and gives it a major physical and digital presence across the U.S.
Sleep Number operates more than 570 stores throughout the United States and sells products through its e-commerce platform. The company has served more than 16 million customers during its 40-year history.
Its mattresses are designed to provide adjustable firmness, pressure relief and temperature-control features that can be personalized for individual sleepers. Sleep Number has developed more than 1,000 issued and pending patents covering its products and sleep technologies.
The acquisition adds those capabilities to Sleep Country’s existing portfolio of retail and direct-to-consumer brands. Sleep Country’s banners include Sleep Country Canada, Dormez-vous, Endy, Silk & Snow, Hush, Casper Canada and Simba.
Before the transaction, Sleep Country operated 307 corporate-owned stores and 18 warehouses across Canada. The company also maintained e-commerce and omnichannel operations serving customers across its portfolio.
Leaders from Sleep Country and Sleep Number worked together during the transaction process to maintain customer service and support employees. The companies plan to continue that collaboration as integration planning progresses.
Sleep Country said customers should continue receiving service and support from the brands they currently use. The company intends to take a measured approach to integration while evaluating how the organizations’ retail, technology, product and operating capabilities can work together.
The transaction significantly expands Sleep Country’s addressable market by adding the U.S. sleep and mattress sector to its existing Canadian operations. It also gives the company a larger platform for introducing products across physical stores, digital channels and its broader portfolio of sleep brands.
Additional details about the integration process and future milestones will be provided as the plans develop.
KEY QUOTES:
“This is a game-changing acquisition. Sleep Number has built an exceptional brand, driven by amazing people, meaningful comfort & innovation and an unwavering commitment to improving customers’ lives through better quality of sleep.”
“We look forward to welcoming the Sleep Number team, and working alongside them as we bring these two organizations together to deliver better sleep to all of our customers.”
“Our priorities remain clear. We will continue serving customers with the same commitment to quality, expertise and care that they have always expected from our brands. We will also take the time to listen, learn and build relationships across our teams as we shape the future together.”
Stewart Schaefer, President and CEO of Sleep Country Canada
