Sleepout announces first major investment partner in deal with Sleep Country
Sleep Country's 25% investment will help Canadian start-up Sleepout's entry to the market as demand for sleep wellness products grows.
TORONTO, Nov. 23, 2021 /CNW/ - Today, Sleep Country announced an agreement to acquire a 25% stake in Sleepout, a Canadian startup specializing in innovative portable blackout curtains.
Born out of the pandemic, and out of co-founders Mark Coombs and Hannah Brennen's frustration, Sleepout is a Canadian direct-to-consumer business that works to help people sleep better while making a positive impact on the environment. Like nearly a third of Canadians, Mark suffered from insomnia and found that total darkness was the best solution to get a restful night's sleep. After years of ineffective DIY solutions, Mark and Hannah developed the Sleepout® Curtain, a patented portable blackout curtain that installs anywhere in seconds to completely darken any room.
"We are thrilled to receive this investment from Sleep Country, Canada's leading sleep retailer," said Mark Coombs, CEO and Co-Founder of Sleepout "We couldn't have asked for a better investment partner. With Sleep Country's support, Sleepout will be able to cover new ground by achieving larger scale and advancing our joint mission of helping North Americans sleep better."
The 25% stake represents Sleep Country's first-ever minority investment. As Canada's leading omnichannel specialty sleep retailer, Sleep Country's investment will help Sleepout as they move into their next phase of growth. Logistical assistance with warehousing and supply chain, alongside the business relationships that can be built from this partnership will be instrumental in Sleepout's ability to rapidly expand their business to meet rising demand.
"We are thrilled to expand our product offering with Sleepout. Sleepout fills a major gap in the market and addresses a problem around sleep for people living all over North America, and beyond." said Phil Besner, Senior Vice President, Business Development of Sleep Country Canada "Through our investment in Sleepout's portable blackout curtains we will be able to continue to provide Canadians with products that will help them get the rest they need both at home and while traveling."
Sustainably designed with premium Greenguard® and OEKO-TEX® certified 100% blackout fabric, the Sleepout® Curtain is incredibly effective at keeping out light. It temporarily installs to any window using industrial-strength locking suction cups and blocks extra light with the help of the proprietary Sleepout Pads: a new non-damaging adhesive technology designed specifically to block light bleeds. The easy-to-install and remove kit packs into a reusable carrying bag that can fit into a backpack or suitcase, making it the perfect blackout solution for home and travel.
Sleepout's commitment to the environment goes beyond their use of sustainable manufacturing and ethical business practices. Sleepout makes a positive impact on the planet with a multifaceted approach to sustainability. They purchase carbon offsets (split between protecting old-growth forests and removing carbon from the atmosphere), design products to maximize longevity and minimize packaging, and through their partnership with The Eden Project, a tree is planted for every Sleepout Curtain sold.
"As a small company, we want to lead by example and prove it is possible to develop innovative solutions to everyday problems without compromising on the health of the planet. Through our journey in becoming the world's leading portable blackout curtain we want to do good for the environment and leave it better than we found it." said Hannah Brennen, COO and Co-Founder of Sleepout.
For more information about Sleepout and the Sleepout Curtain® visit www.sleepoutcurtains.com.
About Sleepout
Mark Coombs and Hannah Brennen founded Sleepout out of personal frustration. After years of dealing with Mark's insomnia and finding available solutions lacking, they set out to create a curtain that could provide complete darkness. Understanding that many sleep better in total darkness, finding a complete solution that could be installed easily without damaging walls or windows was essential. Sleepout offers an ideal solution for anyone in need of total darkness and creates a positive impact on the environment through sustainable design and climate-positive business initiatives. Sleep better with Sleepout.
For more information visit www.sleepoutcurtains.com
About Sleep Country
Sleep Country is Canada's leading omnichannel specialty sleep retailer with a national retail store network and robust eCommerce platforms. The Company operates under retail banners: "Sleep Country Canada", with omnichannel operations in Canada excluding Québec; "Dormez-vous?" with omnichannel operations in Québec; "Endy", Canada's leading direct-to-consumer online sleep solutions retailer; and recently acquired Hush Blankets Inc., one of Canada's fastest-growing digital retailers. Sleep Country has 287 stores, 17 fulfillment centres and two storage hubs across Canada. Sleep Country is a purpose-led company dedicated to transforming lives by awakening Canadians to the power of sleep. The company is committed to meaningfully and positively supporting its environment, people and communities including operating a comprehensive Mattress Recycling Program and working closely with Canadian charities to donate new and gently used mattresses to families and children in need.
For more information visit www.sleepcountryir.ca.
SOURCE Sleepout/Mark Coombs
please contact: Ceilidh McMeekin, Agnostic , [email protected], 587-227-5459
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