On January 4, 2023, Sleep Country Canada Holdings Inc. ("Sleep Country"), Canada's leading sleep retailer, announced the closing of its acquisition of Silk & Snow Inc. ("Silk & Snow"), a fast-growing brand specializing in sleep and lifestyle products.
Sleep Country acquired substantially all of the assets of Silk & Snow for approximately C$24 million in cash on closing and up to an additional C$19.45 million in cash determined by Silk & Snow achieving certain growth and profitability targets over the next three years.
Silk & Snow is one of Canada's fastest growing direct-to-consumer retailers offering thoughtfully curated sleep and lifestyle products. In 2020, Silk & Snow made Canadian Business' top 10 start-up list ranking of Canada's Fastest Growing Companies and in 2021 and 2022 was ranked one of Canada's top growing companies by the The Globe & Mail.
Fasken represented Silk & Snow in connection with this transaction with a team comprised of Will Shaw, Chris Dittrich, Robert Marks, Simar Anand, Mitchell Thaw (Tax), Kevin Yip (Tax), Devon LaBuik (Tax) and Pantea Eshraghi (Articling Student).
Jurisdiction
- Ontario
