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Sleep Country Canada Inc., Canada's largest specialty mattress retailer, acquired substantially all of the assets and ongoing business operations of Minneapolis-based Sleep Number Corporation (Nasdaq: SNBR) through a court-supervised Section 363 sale process. The purchase was made through SNBR Inc., a wholly owned Sleep Country subsidiary, which had served as the "stalking horse" bidder. Sleep Number filed for Chapter 11 bankruptcy on June 12, 2026 in the U.S. Bankruptcy Court for the Southern District of New York (Case No. 26-11399), having entered an asset purchase agreement with Sleep Country immediately beforehand. After a competitive auction, the U.S. Bankruptcy Court approved the sale to Sleep Country on July 20, 2026. The transaction marks Sleep Country's entry into the United States and creates a combined network of more than 800 store locations, positioning its Family of Brands as the world's second-largest sleep retailer (per the company). Sleep Number contributes personalized "smart bed" sleep technology, more than 1,000 patents, and over 570 U.S. stores, while Sleep Country brings its retail model and portfolio of banners including Endy, Silk & Snow, Hush, Casper Canada, and Simba. Leadership from both companies coordinated during the process to maintain customer service and support employees. Sleep Number had reported roughly $642 million in assets against $1.3 billion in liabilities.
Parties
Company
Sleep Country Canada Inc.
Company
Sleep Number Corporation
Company
SNBR Inc.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
$ 980,000,000Deal Status
ClosedClosing Date
31 July 2026