Traeger heats up after Weber deal
12/12/2022 14:29
** Shares of wood pellet grill maker Traeger Inc COOK.N up
~7% at $3.39 premarket after Weber Inc WEBR.N buyout
** Barbecue grill maker WEBR agrees to go private in $2.3
bln deal with its largest shareholder BDT Capital Partners LLC
urn:newsml:reuters.com:*:nL4N332267
** Last month, COOK reported wider-than-expected adj. loss,
and cut its FY22 rev outlook as retailers destock excess
inventory
** YTD, COOK shares down 74% through Fri close and well
below Jul 2021 IPO price of $18
** Private equity firm AEA Investors is top COOK holder with
~27% stake, followed by Ontario Teacher' Pension Board with 20%
stake, per Refinitiv data
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))