Goodwin Advises Sleep Country Canada on Agreement to Acquire Sleep Number

Goodwin’s M&A and Financial Restructuring teams advised Sleep Country Canada in connection with its agreement to combine with Sleep Number Corporation (Nasdaq: SNBR) to create a leading North American mattress and bedding company. The transaction will enable the combined company to provide consumers across the United States and Canada a broader assortment of innovative sleep products and services in stores and online. To facilitate the combination, Sleep Number initiated a voluntary Chapter 11 sale process. Sleep Country Canada has committed, subject to court approval, to acquire substantially all assets of Sleep Number for a purchase price of $415 million in cash and the assumption of certain liabilities, subject to certain potential adjustments.

Sleep Country is Canada's leading specialty sleep retailer with a purpose to transform lives by awakening Canadians to the power of sleep. Sleep Country operates under the retailer banners Sleep Country Canada, Dormez-vous, the rest, Endy, Silk & Snow, Hush, and most recently acquired, Casper Canada. The company has omnichannel and e-commerce operations, including 307 corporate-owned stores and 18 warehouses across Canada. Recognized as one of Canada's Most Admired Corporate Cultures in 2022 by Waterstone Human Capital and most trusted mattress retailer by Brandspark in 2025, Sleep Country is committed to building a company culture of inclusion and diversity where differences are embraced and valued. The company actively invests in its sleep ecosystem, innovative products, world-class customer experience, communities, and its people.

The Goodwin team was led by Harrison Freeman, Joshua Zachariah, Kizzy Jarashow, Ed Amer, and Benjamin Loveland.

For more information on the deal, please read the press release.