Sleep Country Canada to acquire mattress-in-a-box retailer Endy in $89M deal

TORONTO - Sleep Country Canada Holdings Inc. says it will acquire online mattress retailer Endy for nearly $89 million.

The Toronto-based company says it has signed a definitive agreement to acquire the mattress-in-a-box firm, a Canadian start-up that launched in 2015.

Sleep Country Canada will pay $88.7 million, with $63.7 million cash at closing and up to $25 million more in cash in early 2021 if certain growth and profitability targets are achieved in the previous year.

The company's revolving credit facility will be upsized by $60 million to $210 million to finance the transaction.

The deal is subject to customary closing conditions and expected to close on Dec. 6 of this year.

Sleep Country already sells a mattress-in-a-box product, Bloom, which comes in four different styles and price levels.

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