Sleep Country Canada rises on Hush Blankets buy

Sleep Country Canada Holdings

19/10/2021 16:18

** Mattress retailer's shares  ZZZ.TO  up 1.3% at ~C$35 in
early trading
    ** Co says it is acquiring a majority share of Hush
Blankets, a Canada-based direct-to-consumer sleep retailer
specializing in weighted blankets, pillows and sheets
 urn:newsml:reuters.com:*:nCNWH3WG6a
    ** Sleep Country agrees to acquire a 52% majority stake in
Hush for an initial amount of $25 mln
    ** Transaction is expected to close on Oct. 22
    ** ZZZ will acquire the residual 48% of Hush in annual 16%
stake increments thereafter starting March 31, 2023
    ** Stock up ~32% YTD
    

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))