Mattress Firm Holding Corp. (Nasdaq: MFRM) agreed to buy rival Sleepy’s for $780 million, uniting the two largest specialty mattress retailers in the U.S.

As part of the deal, Mattress Firm is assuming $30 million in liabilities, according to a statement on Monday. Sleepy’s Chief Operation Officer Adam Blank will join Mattress Firm’s management and contribute $10 million in equity in exchange for the acquiring company’s stock. The rest of the purchase will be handled in cash.

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