Sleep Country Canada
A Canadian specialty retailer focused on mattresses, beds, bedding, and related sleep products.
Last updated August 26, 2026
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Overview
Sleep Country Canada is a Canadian specialty retailer serving the mattress and broader sleep-products market. The company began in 1994, when Christine Magee, Stephen K. Gunn, and Gordon Lownds opened four stores in Vancouver. It expanded rapidly across the country, entering Toronto in 1996 and building a national store network across several regional markets. By 2001, the chain had 72 stores and was estimated to hold approximately 40 percent of the mattress market in the regions where it operated. The retailer sells mattresses and associated products through physical stores and online channels. Its assortment includes mattresses, pillows, bed frames, bedding, and other products intended to support sleep and bedroom furnishing needs. The company has historically carried products from multiple manufacturers rather than operating solely as a single-brand mattress producer. Its retail proposition combines product choice with in-store guidance and a recognizable national advertising presence. Sleep Country Canada is particularly associated with the long-running radio advertising line “Why buy a mattress anywhere else?” The phrase became a prominent part of the brand’s identity in Canada. A similarly worded jingle was also used by the separate U.S. retailer Sleep Country USA, which later became Mattress Firm; the two businesses were not affiliated. The company has used acquisitions and corporate restructuring as important growth mechanisms. It converted into an income trust in 2003 and completed an initial public offering that raised nearly CA$130 million. In 2006, it acquired Dormez-vous Sleep Centres, a Montreal-based chain that continued operating separately, and also purchased Sleep America, adding stores in Arizona. The business was taken private in 2008 after Birch Hill Equity Partners and Westerkirk Capital made a friendly offer for the Sleep Country Canada Income Fund. Sleep Country returned to the public markets in 2015 through an offering on the Toronto Stock Exchange, using the ticker symbol ZZZ. From 2018 through 2023, it broadened its portfolio through acquisitions involving digitally oriented and specialized mattress brands, including Endy, the Canadian operations of Casper Sleep, Silk & Snow, and Hush. These transactions expanded the company beyond conventional store-based retail and strengthened its participation in online and direct-to-consumer mattress categories. Fairfax Financial Holdings acquired Sleep Country Canada in October 2024 in a transaction reported at approximately CA$1.7 billion. The acquisition ended Sleep Country’s period as a publicly traded company. In 2025, the company also acquired the Canadian and United Kingdom rights to the Bed Bath & Beyond name and logos, together with domain names associated with several websites. It announced plans to relaunch Bed Bath & Beyond in those markets, including physical stores and online operations, in 2026. Sleep Country therefore combines a mature Canadian mattress-retail network with a growing portfolio of sleep brands and a planned expansion into broader home-goods retail.
History
Sleep Country Canada was established in 1994 by Christine Magee, Stephen K. Gunn, and Gordon Lownds. The founders opened the first four locations in Vancouver, creating a specialized retail concept centered on mattresses and sleep products. The business expanded quickly: in 1996 it entered Toronto with 19 new stores, and by 2001 it had grown to 72 stores across six regional markets. At that point, the company was estimated to account for about 40 percent of mattress sales in the regions where it operated. The brand developed a strong advertising identity around the radio line “Why buy a mattress anywhere else?” That jingle became closely associated with Sleep Country Canada in the Canadian market. The U.S. retailer Sleep Country USA used the same jingle but was an unaffiliated company and later became Mattress Firm. In 2003, Sleep Country converted into an income trust and raised nearly CA$130 million through an initial public offering. Its next phase involved geographic and brand expansion. In January 2006, it acquired Dormez-vous Sleep Centres, which operated five stores in Montreal and continued under its own name. In March of the same year, Sleep Country acquired Sleep America, a mattress retailer whose 32 stores were located in Arizona. The company changed ownership in 2008. Birch Hill Equity Partners and Westerkirk Capital offered approximately CA$356 million for all units of the Sleep Country Canada Income Fund. The friendly transaction was accepted, taking the business out of the income-trust structure and into private ownership. Sleep Country returned to public markets in 2015 through an initial public offering on the Toronto Stock Exchange. Its shares traded under the symbol ZZZ. During the following years, the company increasingly combined its established store network with online and direct-to-consumer capabilities. From 2018 through 2023, it acquired several mattress and sleep brands, including Endy, the Canadian operations of Casper Sleep, Silk & Snow, and Hush. These moves expanded the company’s portfolio and gave it greater exposure to customers who shop for mattresses through digital channels. In October 2024, Fairfax Financial Holdings acquired Sleep Country Canada in a transaction reported at approximately CA$1.7 billion. The purchase made Sleep Country a private company again and placed it within Fairfax’s investment portfolio. In 2025, Sleep Country expanded its ambitions beyond its established mattress-focused identity by acquiring the Canadian and U.K. rights to the Bed Bath & Beyond name and logos, along with several related website domains. The company stated that it planned to relaunch Bed Bath & Beyond in 2026 through physical and online retail. The resulting business combines a large Canadian specialty sleep-retail platform, a collection of mattress and bedding brands, and a planned broader home-goods retail proposition.
- 2025
Bed Bath & Beyond rights acquired
[1]Sleep Country acquired Canadian and U.K. rights to the Bed Bath & Beyond brand and announced plans for a 2026 relaunch.
- 2024
Acquired by Fairfax Financial
[1]Fairfax Financial Holdings acquired the company, ending its public listing.
- 2015
Public-market relisting
[1]Sleep Country completed an IPO on the Toronto Stock Exchange and traded under the symbol ZZZ.
- 2008
Taken private by investment firms
[1]Birch Hill Equity Partners and Westerkirk Capital completed a friendly acquisition of the Sleep Country Canada Income Fund.
- 2006
Acquisitions in Montreal and Arizona
[1]The company acquired Dormez-vous Sleep Centres in Montreal and Sleep America in Arizona.
- 2003
Conversion to an income trust
[1]Sleep Country converted into an income trust and raised nearly CA$130 million through an initial public offering.
- 2001
Network reaches 72 stores
[1]The company operated 72 stores in six regional markets and had a substantial share of the mattress market in those regions.
- 1996
Expansion into Toronto
[1]Sleep Country entered Toronto with 19 new stores, accelerating its national expansion.
- 1994
First Sleep Country stores open in Vancouver
[1]Christine Magee, Stephen K. Gunn, and Gordon Lownds launched the business with four Vancouver locations.
Products and positioning
A national, multi-brand specialty sleep retailer combining physical-store advice, online purchasing, broad mattress selection, and related bedroom products.
Sleep products · 1994
Mattresses
Mattresses are the company’s core category. Sleep Country operates as a multi-brand specialty retailer, offering customers a range of mattress types and brands through stores and online channels. The category is central to the company’s sales proposition and its long-running retail identity.
Sleep accessories
Pillows and sleep accessories
The retailer offers pillows and related sleep accessories intended to complement mattress purchases and address different comfort and sleep preferences.
Bedroom furnishings
Bed frames and bedroom furniture
Bed frames and associated bedroom furnishings extend the assortment beyond mattresses and allow customers to purchase components of a complete sleep setup from the same specialist retailer.
Bedroom furnishings
Bedding
Bedding forms part of the company’s broader sleep and bedroom assortment, complementing mattresses, frames, and pillows.
Marketing campaigns
- Why buy a mattress anywhere else?
Canada
Sleep Country Canada became strongly associated with a recurring radio advertising jingle built around the question “Why buy a mattress anywhere else?” The line served as a memorable brand-recall device and helped distinguish the retailer in a competitive category.
Outcome. The jingle became a defining part of the brand’s public identity.
Brand decisions
2025
Plan a Bed Bath & Beyond relaunchStrategyBackground
Sleep Country sought to extend its retail presence beyond mattresses and sleep products.
Action taken
The company purchased Canadian and U.K. rights to the Bed Bath & Beyond name and logos, together with several related website domains, and announced a planned 2026 relaunch.
Aftermath
The planned relaunch is intended to include both physical stores and online retail operations.
2024
Accept Fairfax Financial acquisitionM&ABackground
Sleep Country was operating as a publicly traded Canadian specialty retailer with a growing portfolio of sleep brands.
Action taken
Fairfax Financial Holdings acquired the company and took it private.
Aftermath
Sleep Country became part of Fairfax Financial’s privately held portfolio.
Reported acquisition value. Approximately CA$1.7 billion (October 2024)
2018
Build a broader portfolio of sleep brandsM&ABackground
The mattress market was increasingly shaped by online and direct-to-consumer brands as well as traditional store-based retail.
Action taken
Between 2018 and 2023, Sleep Country acquired or added brands including Endy, Casper Sleep’s Canadian operations, Silk & Snow, and Hush.
Aftermath
The company expanded its participation in digital mattress retail and broadened its brand portfolio.
2015
Return to public marketsStrategyBackground
After several years under private ownership, Sleep Country sought to access public equity markets again.
Action taken
The company completed an IPO on the Toronto Stock Exchange under the ticker ZZZ.
Aftermath
Sleep Country operated as a publicly traded company until Fairfax Financial acquired it in 2024.
2006
Expand through Dormez-vous and Sleep America acquisitionsM&ABackground
Sleep Country pursued geographic expansion in Canada and the United States.
Action taken
It acquired Dormez-vous Sleep Centres in Montreal and Sleep America in Arizona.
Aftermath
The transactions added a separate Montreal operating brand and 32 Arizona stores.
2003
Convert to an income trust and raise public capitalStrategyBackground
The growing retailer sought a new corporate and financing structure as it expanded its store network.
Action taken
Sleep Country converted into an income trust and completed an initial public offering.
Aftermath
The offering raised nearly CA$130 million and provided capital for the company’s subsequent expansion.
Initial public offering proceeds. Nearly CA$130 million raised (2003)
Recent events
Sleep Country launches an online store on Loblaw Marketplace[2]
Reported:
Loblaw teamed up with Sleep Country to launch an online store on Loblaw Marketplace, making Sleep Country sleep products available through Loblaw's online grocery banners.
Sleep Country Canada announces acquisition of majority stake in Hush[3]
Reported:
Sleep Country Canada announced that it had agreed to acquire a 52% majority stake in Hush for an initial amount of $25 million. The release said the transaction was expected to close on October 22, 2021, subject to customary closing conditions.
Purple partners with Sleep Country Canada to distribute Purple products[4]
Reported:
Purple announced an exclusive partnership with Sleep Country Canada to bring Purple products to the retailer's 280 Canadian locations.
Purple announces Canadian launch of Purple Plus Mattress[4]
Reported:
Purple announced that Sleep Country Canada would launch the Purple Plus Mattress exclusively in the Canadian market; the product was scheduled to be available for purchase starting November 10, 2020.
Sources4 sources
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