Brief: Sleep Country Announces Intention To Acquire Silk & Snow

Sleep Country Canada Holdings

20/12/2022 22:31

Dec 20 (Reuters) - Sleep Country Canada Holdings Inc
 ZZZ.TO :
    * SLEEP COUNTRY ANNOUNCES INTENTION TO ACQUIRE SILK & SNOW
    * SLEEP COUNTRY CANADA HOLDINGS INC - TRANSACTION WILL BE
FINANCED
THROUGH SLEEP COUNTRY'S CASH ON HAND AND REVOLVING CREDIT
FACILITY
    * SLEEP COUNTRY CANADA HOLDINGS INC - SILK & SNOW WILL
OPERATE AS
AN INDEPENDENT ENTITY WITHIN SLEEP COUNTRY
    * SLEEP COUNTRY CANADA HOLDINGS INC- SLEEP COUNTRY WILL PAY
ABOUT
$24.0 MILLION IN CASH AT CLOSING OF DEAL
    * SLEEP COUNTRY CANADA HOLDINGS INC - SILK & SNOW WILL
OPERATE AS
AN INDEPENDENT ENTITY WITHIN SLEEP COUNTRY, LED BY CHOW AS CEO
AND MO AS COO
    * SLEEP COUNTRY CANADA -  TO PAY UP TO ADDITIONAL $19.45
MILLION
IN CASH IN EARLY 2026 BASED ON SILK, SNOW ACHIEVING CERTAIN
TARGETS FOR FY 2023, 2024, 2025

Source text for Eikon:  ID:nCNWZDgSna 
Further company coverage:  ZZZ.TO 
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