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.
- Pembina says proposed West Coast pipeline stake fits its broader strategy
- Canada’s Enbridge postpones plans for second phase of Mainline oil pipeline expansion
- TC Energy increases demand outlook for natural gas amid data centre boom
- Cenovus set to surpass million-barrel per day production as it digests MEG purchase
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.