Sleep Country Canada (ZZZ) is buying privately held Casper's Canadian operations in a deal valued at $20.6 million.
Sleep Country said that U.S.-based mattress-in-a-box company Casper has invested more than $1 billion U.S. to build an internationally recognized brand.
The acquisition of Casper will help Sleep Country Canada with its long-term strategic growth plan, the company added in a news release.
The purchase of Casper comes as the number of companies selling compressed and rolled mattresses in boxes that are shipped directly to consumers has exploded in recent years.
Sleep Country Canada previously acquired online mattress firm Endy for $88.7 million in 2018.
The stock of Sleep Country Canada has declined 16% in the last 12 months to trade at $22.83 per share.
