Who Owns Purple Mattress in 2024?
Purple Innovations Inc. is a public limited company. Therefore, it has several ownerships and investors.
As of 2023, ten mutual funds own Purple’s shares. Besides mutual funds, several institutions have purchased the company’s shares. And the institution that holds the most share is Van Berkom & Associates, Inc.
Read the article to learn more about the ownership of Purple. Also, find out the company’s ups and downs in the share market.
Who are the owners of Purple Mattress?
According to the company act, to be a public company, it must have more than seven shareholders and a minimum of three directors. Here, a shareholder can be anything, such as institutions, mutual funds, individuals, etc.
As Purple is currently a public company, it has several shareholders and directors. The names of mutual funds that have shares of Purple company are listed below along with their number of shares:
| Shareholder Name | Shares Held |
| Fidelity Growth Company Fund | 34,50,843 |
| Fidelity Growth Company k6 Fund | 11,32,251 |
| Ave Maria Value Fund | 17,92, 490 |
| Federated Hermes MDT Small Cap Core Fund | 10,31,211 |
| Fidelity Series Growth Company K6 Fund | 11,32,251 |
| Vanguard Institutional Total Stock Market Index Trust | 15,99,775 |
| Federated Hermes MDT Small Cap Growth Fund | 8,58,268 |
| Fidelity Small Cap Index Fund | 4,33,503 |
| CI Global Smaller Companies Corporate Class | 8,35,576 |
| Caisse de Dépôt et Placement du Québec | 7,75,563 |
Besides the mutual funds, several institutions have also purchased Purple’s shares. The institutions are listed below to see at a glance:
- Coliseum Capital Management LLC
- Fidelity Management & Research Co. LLC
- Van Berkom & Associates, Inc.
- No Street GP LP
- Freshford Capital Management LLC
- Conestoga Capital Advisors LLC
- ArrowMark Colorado Holdings LLC
- BlackRock Fund Advisors
- Wasatch Advisors, Inc.
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Do the Pearce brothers still own Purple?
Two American brothers, Tony Pearce and Terry Pearce are co-founders of Purple mattress company. They established the company in 2015 but built their first mattress assembler in 2013.
Purple mattress’s share value was rising exponentially. However, everything changed during the COVID-19 pandemic. Due to several factors, the company’s profit declined further and further.
On 17 August 2020, in the middle of the COVID-19 pandemic, the Pearce brothers stepped down from the company’s director’s position.
According to Tony Pearce’s Linkedin profile, he and his brother, Terry Pearce, took retirement from their posts. It is probably due to becoming senior citizens.
However, there is no clear evidence that the two have given up their Purple’s ownership.
Again, some well-known magazines, such as PR Newswire, covered Tony Pearce and Terry Pearce’s retirement. However, in Terry Pearce’s Linkedin profile, we observed that he was still with Purple in December 2022.
Therefore, it is still in a haze if the Pearce brothers are still somehow engaged with Purple Mattress.
Is Purple an American company?
The answer is yes. Purple is an American company, and its headquarters is in Utah, USA.
In 2015, Tony Pearce and Terry Pearce established Purple in Utah after years of research. They had worked together on polymers, cushioning materials, fluids, etc., since 1989.
Finally, in 2013, the two concluded to start a mattress company by inventing the machine for manufacturing large-size cushioning materials. Two years later, they introduced their newly founded company in Utah.
Everything, from raw materials processing to assembling, is done inside the United States. The investors of this company are also American.
Purple company’s core is American. And after manufacturing products, it also exports some of them. The products that the company manufactures in its production facility are listed below:
- Mattresses
- Sheets
- Pillows
- Adjustable Beds
- Mattress Protectors
- Back Cushions
- Seat Cushions
- Bed Platforms
Is Purple going private?
The Post COVID-19 financial situation of the Purple Mattress company is dire. If the company does not take effective steps, it will probably dissolve.
Therefore, the company has taken a strategic approach of going private from the public. In September 2022, the company directors made an announcement.
Purple will soon go under a private capital management firm named Coliseum Capital Management LLC. It might be the best solution to prevent extinction.
Sources
- https://www.wsj.com/market-data/quotes/PRPL/company-people – Purple Company People (Wall Street Journal Markets)
- https://www.prnewswire.com/news-releases/purple-announces-retirement-of-co-founders-terry-and-tony-pearce-and-the-appointment-of-paul-zepf-as-a-director-301115165.html# – Tony and Terry Pearce’s Retirement (PR Newswire)
