Capstone Partners advised Coop Home Goods (Coop or the Company), a leading digitally native home goods brand, on its acquisition by Topspin Consumer Partners (Topspin).
Founded by siblings Kevin and Jin Chon in 2013 and based in Los Angeles, CA, Coop is a growing e-commerce company that designs and sells branded, high-quality adjustable memory foam pillows, bedding and sleep-related products through the Company’s website and various e-commerce marketplaces, including Amazon. Coop’s flagship product, the shredded bamboo memory foam pillow, has been the number one-ranked pillow by Consumer Reports for the past two years. The Company has developed a loyal customer following due to its superior branding, product quality, design and comfort, internet savvy and superior customer service.
We started speaking with the Capstone team a few years before our transaction. They were always generous with their time and attention even though we weren’t clients yet. There was no pressure and when the time finally came, we knew we would go with the Capstone team. We were very satisfied through the process, we felt supported, and guided through this whole process, and always felt that Capstone was in our corner and working to make this deal happen.
“Kevin and Jin were ideal Capstone clients, extremely hard working and kind entrepreneurs who have built a successful ecommerce company, an authentic brand and truly the best pillow on the market! They were growing quickly and wanted a partner that would be hands on with helping them take Coop to the next level. Topspin was an Ideal fit due to their ecommerce expertise and successful track record with similar ecommerce businesses. I am excited for Coop’s future success and brand expansion” said Lisa Tolliver, Senior Director at Capstone and lead on the transaction. “Strong M&A Interest exists right now for attractive, growing digitally native brands, particularly from experienced consumer investors like that of Topspin.”
Stephen Parks, Partner of Topspin, said, “We are thrilled to work alongside Jin and Kevin in continuing to grow Coop into a leading sleep and wellness brand. Their innovative, best-in-class products have disrupted the sleep category and generated an avid consumer following, driving the success of the brand. Coop’s growth has been extraordinary, and the team has created a great foundation to build off of.”
Topspin Consumer Partners is a Mamaroneck, NY-based private equity firm that makes investments in established, profitable and fast-growing middle-market consumer businesses. The Topspin team has considerable operational expertise in consumer products and services and collaborates with founder-owners and management teams to build businesses of varying stages and sizes.
