Trilantic Capital Partners announced on Monday that it bought a minority stake in wood pellet producer Traeger Pellet Grills. No financial data on the transaction were disclosed. Traeger Pellet Grills, headquartered in Wilsonville, Oregon, manufactures and markets wood pellet grills, sauces, spices, and accessories and equipment for grilling.
The company sells its merchandise through a direct sales force at trade shows, fairs, rodeos, and through online media and other festivals and outdoor events. Last year, the company started its Traeger brand of stores in shopping malls in the United States. The company is now the leading brand in grilling and outdoor cooking.
Trilantic's partner Charlie Moore said, "Traeger management has developed a very strong product offering and a loyal following."
"We look forward to helping the Company execute on key growth initiatives going forward, including expanding its management team," he added.
"Trilantic's track record of working successfully with entrepreneurs was extremely attractive to the Company. We look forward to partnering with Trilantic to take Traeger through the next chapter of its development," said Keith Barish, Traeger's chariman.
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