Sleep Country Canada Holdings Inc. has signed a deal to buy Hush Blankets, a direct-to-consumer seller of weighted blankets, pillows, sheets and bed-in-a-box mattresses.
Under the deal, Sleep Country will acquire a 52 per cent stake in Hush for $25 million.
- Calgary Chamber says trade negotiations ‘a tipping point’ in relationship with U.S.
- ‘Not suitable’: Utilities commission rejects power plant for Olds, Alta., data centre
- Curaleaf looks to buy Aurora Cannabis, takes bid directly to shareholders
- Mortgage renewals mean housing takes up 50% of many Canadians’ budgets
The company has also agreed to buy the other 48 per cent in annual 16 percentage point stake increments starting March 31, 2023, at a price based on the business’s financial performance.
Hush was founded in 2017 by Lior Ohayon and Aaron Spivak and launched a weighted blanket in Canada in 2018.
Sleep Country says Hush will continue to operate as an independent business led by Ohayon and Spivak and a board including senior management from Sleep Country and Hush.
Comments
Want to discuss? Please read our Commenting Policy first.