Fairfax to purchase Sleep Country in $1.7-billion deal

Sleep Country Canada Holdings ZZZ-T on Monday agreed to be acquired by a unit of insurer Fairfax Financial in a deal valued at C$1.7 billion ($1.24 billion).

The acquisition price of C$35 per share marks a 28% premium to Sleep Country’s last close.

Sleep Country, which sells mattresses, pillows and sheets, operates 307 corporate-owned stores and 18 warehouses across Canada.