Sleep Number Corp (SNBR)

Sleep Number has agreed to sell substantially all of its assets to Sleep Country Canada for $529.5 million in cash, following a court-supervised auction. This revised amount is an increase from the initial $415 million offer and includes reduced escrow and removal of certain deductions. The deal is contingent on Bankruptcy Court approval, antitrust clearance, and other standard conditions.

Sleep Country Canada has acquired Sleep Number's business through a court-supervised sale, making Sleep Country’s Family of Brands the world’s second-largest sleep retailer with over 800 locations. This acquisition combines Sleep Country’s retail operations with Sleep Number’s personalized sleep technology and smart-bed expertise. The deal is seen as a transformational step, with both companies working together to ensure a smooth integration while maintaining focus on quality and customer care.

Sleep Number Corporation has received court approval for the sale of its assets and operations to SNBR Inc., a subsidiary of Sleep Country Canada Inc. The acquisition is expected to close by July 31, with Sleep Number's daily operations continuing as normal. Both companies express optimism about combining strengths to become a leading North American mattress and bedding company.

Mattress retailer Sleep Number received bankruptcy court approval to sell its assets to Sleep Country of Canada for $701 million. Sleep Country increased its original offer to include cash and assumption of some debts, with the sale expected to close by July 31. Sleep Number, which filed for bankruptcy in June due to tariffs, inflation, and supply chain issues, aims to form a leading North American mattress and bedding company with Sleep Country.

Sleep Country Canada Inc. has won its bid to acquire substantially all of Sleep Number Corp.'s assets and ongoing business operations. A bankruptcy judge approved the sale after Sleep Country Canada sweetened its offer to $122 million. The deal, which follows a competitive auction, is expected to close by July 31st, positioning the combined company for significant growth in the U.S. and Canadian markets.