Sleep Country is acquiring Canadian mattress startup Endy for $89 million.
Endy, one of Canada’s well-known mattress-in-a-box companies, launched in 2015 and became one of the fastest growing startups in the country.
Following three years of significant growth, Endy was named Canada’s fastest growing retail company on the 2018 Startup 50 list, according to the acquisition release.
“We are thrilled with today’s announcement and extend a very warm welcome to the entire Endy team,” said Stewart Schaefer, Chief Business Development Officer at Sleep Country.
“Endy is a true Canadian success story, growing by over 150% year over year in 2018, while remaining profitable. Endy has built strong customer loyalty and a relevant Canadian brand in just three short years, positioning itself as one of the market leaders in a very competitive ecommerce space.”
Besides its mattress, Endy also carries The Endy Pillow, The Endy Sheets, and The Endy Mattress Protector.
The companies say that Sleep Country and Endy businesses will be run separately, “encouraging the competitive entrepreneurial spirit that has positioned them both as leaders in their respective spaces.”
“We launched Endy as a disruptor in the Canadian ecommerce 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 us to continue to grow rapidly and exceed customer expectations in a rapidly evolving retail climate, while remaining separate.”