Mattress Firm Holding Corp. agreed to buy rival Sleep Train Inc. for $425 million, bolstering the specialty-bedding retailer’s reach on the U.S. West Coast.

The acquisition will be funded with cash and debt, according to a statement today. Mattress Firm also will assume an additional $15 million in closely held Sleep Train’s liabilities. Shares of Mattress Firm, which has more than 1,500 company-operated and franchised stores in 36 states, jumped as much as 14 percent.

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