Breaking snooze: Canadian mattress company Endy to be acquired by Sleep Country Canada in landmark $89 million deal
A groundbreaking partnership between Canadian leaders in sleep
Sleep Country has agreed to a deal valued at $88.7 million, a major win for the Canadian startup and e-commerce space. The deal is comprised of $63.7 million in cash to be paid at closing, and up to $25 million in cash to be paid in early 2021 based on the achievement of certain growth and profitability targets in 2020.
“We launched Endy as a disruptor in the Canadian e-commerce space three years ago, and this announcement today is a testament to the incredible dedication of the entire Endy team,” said Rajen Ruparell, co-founder and Chairman of Endy and the company’s majority shareholder. “This acquisition will allow Endy to continue to grow rapidly and exceed customer expectations in a rapidly evolving retail climate, while remaining separate.”
“Since starting Endy, our mission has been to help all Canadians get a better night’s sleep,” said Mike Gettis, co-founder and CEO of Endy. “After getting to know the Sleep Country team, we can think of no better partner to help us achieve the dream we set out to accomplish when we founded Endy. By remaining a deeply rooted Canadian company, we can continue to scale our business and raise the bar even further as champions for our customers.”
TEC member Mike Gettis is CEO of Endy Sleep
