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From Home Furnishing Business
Sleep Country Canada Completes Purchase of Silk & Snow
January 5,
2023 by HFBusiness Staff in Business Strategy, Industry 
Mattress retailer Sleep Country Canada said it has completed its previously announced acquisition of Silk & Snow, a fast-growing, direct-to-consumer sleep products brand.
Sleep Country said it has acquired substantially all of the assets of the brand for approximately C$24million in cash at closing and has agreed to pay up to an additional C$19.45 million in cash in early 2026 based on Silk & Snow achieving certain growth and profitability targets in aggregate for fiscal years 2023, 2024 and 2025.
The transaction will be financed through Sleep Country's cash on hand and revolving credit facility.
"We're delighted to officially welcome Silk & Snow to our growing family of sleep brands as we continue to build our ecosystem and expand our innovative and sustainable product line-up" said Stewart Schaefer, president and CEO of Sleep Country Canada. "We'll support Silk & Snow and the team as they continue to build their following in Canada and the United States and drive even more growth in the business."
"We're thrilled to close the deal today and join forces with Sleep Country, a Canadian icon of sleep," said Albert Chow, CEO and co-Founder of Silk & Snow. "We look forward to continuing to deliver on our promise of offering high-quality, thoughtfully made sleep products."
Silk & Snow will operate as an independent entity within Sleep Country, led by Chow as CEO and Kenneth Mo as chief operating officer. Both will join Sleep Country's senior leadership team.
Sleep Country has 289 retail stores across all Canadian provinces except Quebec, where it owns the Dormez-vous chain. The company also owns direct-to-consumer mattress brand Endy, as well as digital retailer Hush.