Casper
One of the original direct-to-consumer mattress brands. Memory foam construction, bed-in-a-box delivery model. The "Casper" brand became shorthand for the entire DTC mattress category in the 2010s.
Status: Watchlist
- Founded
- 2014
- Website
- casper.com
- HQ
- USA
- Manufacturing
- USA,Various
- Ownership type
- Conglomerate subsidiary
- Parent
- Carpenter Co.
- Acquired
- 2024
- Status since
- 2026-07-08
Ownership
Founded 2014. IPO'd on NYSE (CSPR) February 2020 at $12, below range; stock cratered. Durational Capital Management took it private 2022-01-25 at $6.90 per share with KKR credit financing. In October 2024 Durational sold Casper to Carpenter Co., the Richmond, Virginia foam manufacturer that was already its supplier. Carpenter is private, founded 1950, and had bought Recticel's foams unit and NCFI's consumer division (BedInABox, Sleepdog) in the prior 16 months.
Why Watchlist
Three owners in five years: underperforming IPO, PE take-private, then a sale to the polyfoam supplier itself. The extraction mechanism ended; the churn record and the synthetic polyfoam product remain. Vertical integration under Carpenter could stabilize quality. It has not had time to prove it. Watchlist.
Sister brands under Carpenter Co.
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