Casper’s Ice Cream manufactures and distributes a broad selection of frozen novelty and ice cream products, including ice cream sandwiches, cones, bars, sticks, cups and other formats. Casper’s sells through three brands: FatBoy, the longest standing brand and #1 ice cream sandwich brand in the U.S., Jolly Llama, a non-dairy and better-for-you novelties brand, and ChurnBaby, an indulgent, premium brand. The company operates three manufacturing facilities and is a leading co-manufacturer for other high-growth novelty brands. Since its founding in 1925, Casper’s has been known for its creamy flavor and products with the taste and texture that consumers desire.
MidOcean has spent significant time cultivating its branded food thesis, with a specific interest in frozen. MidOcean identified Casper’s as an attractive opportunity to invest behind a fast-growing, heritage brand with well-established manufacturing capabilities in a category that is supported by numerous macro tailwinds and consumer preferences. MidOcean has also assembled a group of highly relevant and talented operating resources across functional and strategic areas to complement the existing management team and help the company excel in its next phase of growth with its first institutional capital partner.