business
Canadian company wins bid for Sleep Number after raising the price by nearly $300M
Summary by The Minneapolis Editorial Desk · Based on reporting from Star Tribune
· July 21, 2026
· 1 min read
A bankruptcy judge this week approved the $701 million deal for Sleep Country Canada to buy the Minneapolis company. The former company CEO also submitted a bid.
Story provenance No corrections
Summary created by The Minneapolis Editorial Desk — automated, rule-governed Original reporting Star Tribune Original story Read at the source Source published Jul 21, 2026 Indexed here Jul 22, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key takeaway The former company CEO also submitted a bid.
Why this matters in The Minneapolis
The sale of Sleep Number to Sleep Country Canada brings significant change to Minneapolis' business landscape. With a price tag of $701 million, this acquisition is one of the largest in the city's recent history. The fact that Sleep Country Canada was willing to raise its bid by nearly $300 million to secure the deal suggests that the company sees substantial value in Sleep Number's operations and brand. The former CEO's submission of a competing bid indicates that there were alternative visions for the company's future, but the bankruptcy judge's approval of the Sleep Country Canada deal will now set the course for Sleep Number's next chapter. As the city looks to support the local workforce through this transition, the impact on Minneapolis' economy and job market will be worth watching, particularly in terms of potential restructuring or investments in the company's local operations.
About this story
Original reporting by Star Tribune . The Minneapolis surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit Star Tribune . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 21, 2026 ·
Source: Star Tribune ·
Reading time: 1 min
Frequently asked about this story
What is this story about? A bankruptcy judge this week approved the $701 million deal for Sleep Country Canada to buy the Minneapolis company. The former company CEO also submitted a bid.
When was this published? This article was first published on July 21, 2026 by Star Tribune and curated for The Minneapolis readers.
Who reported this story? This story was reported by Star Tribune. To learn more about how The Minneapolis selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Minneapolis, or browse our daily briefing and topic hubs .
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