Sleep Country to Buy Casper Canadian Operations for $20.6 Million
Sleep Country Canada Holdings will purchase the Canadian assets of Casper Sleep for $20.6 million (USD). Toronto-based Sleep Country operates 290 corporate-owned stores and 20 warehouses across Canada as well as ecommerce operations.
“We are very excited to acquire 100% of Casper’s Canadian retail business, who invested over $1 billion globally to build a leading brand that elevated the importance of a good night’s sleep for all,” said Stewart Schaefer, President and CEO of Sleep Country in a statement. “With their omnichannel business, and their mission to deliver a frictionless and elevated sleep retail experience, they align perfectly with our strategic omnichannel journey that began four years ago.”
“We are thrilled to expand upon our retail journey by partnering up with one of North America’s top sleep retailers,” said Emilie Arel, CEO of Casper Sleep in a statement. “Sleep Country has been a retail mattress legacy for almost three decades, and sharing best practices with this leading retailer only helps accelerate our expertise and rapid growth in the retail omnichannel space.”