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Sleep Number Receives Court Approval for Sale to Sleep Country Canada
MINNEAPOLIS, July 20, 2026--Sleep Number Corporation (Nasdaq: SNBR) today announced that it received Court approval for the sale of substantially all of the Company’s assets and ongoing business operations to SNBR Inc., a wholly owned subsidiary of Sleep Country Canada Inc., after making significant improvements to its prior proposal. The sale, which remains subject to customary closing conditions, is expected to close by July 31.
About this update from Sleep Number Corporation
Sleep Country Canada to Acquire Substantially All Assets and Ongoing Business Operations Following a Competitive Auction Transaction Expected to Close by July 31, 2026 Sleep Number is Continuing to Serve All Customers Online and In-Store MINNEAPOLIS, July 20, 2026--(BUSINESS WIRE)--Sleep Number Corporation (Nasdaq: SNBR) today announced that it received Court approval for the sale of substantially all of the Company's assets and ongoing business operations to SNBR Inc., a wholly owned subsidiary of Sleep Country Canada Inc., after making significant improvements to its prior proposal. The sale, which remains subject to customary closing conditions, is expected to close by July 31. Sleep Number's day-to-day operations are continuing as normal, including serving customers with its newest products, servicing warranties and delivering mattresses in homes. Linda Findley, President and Chief Executive Officer of Sleep Number, said, "We started this process with the goals of addressing our financial constraints and positioning our business for a stronger future. Combining with Sleep Country Canada enables us to achieve these goals, and today's Court approval paves the way for us to complete our transaction. Our future together is bright. With Sleep Country Canada, we will build on the strengths that make Sleep Number special: our brand, products, stores and people. We see tremendous opportunities ahead to build a leading North American mattress and bedding company that helps customers improve their sleep and wellbeing." Findley continued, "As we work to complete the last phases of the sale process, we remain committed to serving our customers and advancing our new product line. I want to thank our team members for the continued hard work and dedication they bring each day for our customers." Stewart Schaefer, President and Chief Executive Officer of Sleep Country Canada, said, "Sleep Country Canada's acquisition of Sleep Number is a testament to our confidence in the significant growth trajectory ahead. We see an opportunity to build on our complementary strengths and drive growth across the U.S. while introducing Sleep Number's innovative sleep solutions to Canada and other markets. We look forward to completing this exciting transaction and partnering with their talented team to continue serving customers and investing in the brand's future." Additional Inform...
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