Trilantic Capital Partners said on Monday that it has purchased a minority stake in Traeger Pellet Grills. No financial terms were disclosed. Headquartered in Wilsonville, Oregon, Traeger Pellet Grills is a producer of wood pellet grills, wood pellets, sauces & spices, and grilling accessories.
NEW YORK, July 1, 2013 /PRNewswire/ — Trilantic Capital Partners (“Trilantic”), a global private equity firm, today announced it has acquired a substantial minority interest in Traeger Pellet Grills (“Traeger” or the “Company”), a designer, manufacturer and marketer of wood pellet grills, wood pellets, sauces & spices, and grilling accessories. Financial terms of the transaction were not disclosed.
The Company was founded in 1985 in Oregon. It sells its products, through a dealer network, online and through a direct sales force at selected retailers, trade shows, fairs, rodeos, and other outdoor events. In 2012, the Company began the rollout of Traeger-branded stores in major shopping malls across the country. Known for its ease of use, versatility and great tasting wood-fired cooking, Traeger is America’s leading alternative outdoor grill.
“Traeger management has developed a very strong product offering and a loyal following,” said Charlie Moore, a partner at Trilantic. “We look forward to helping the Company execute on key growth initiatives going forward, including expanding its management team.”
Added Keith Barish, Chairman of Traeger, “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.”
Headquartered in Wilsonville, Oregon, Traeger operates three wood pellet mills in Oregon, Georgia and Iowa, warehouse and logistics locations in Oregon, Colorado and Tennessee, and a facility in Utah where it recruits and trains it sales force. The Company also has a team in China dedicated to manufacturing quality and supply chain management. For more information about Traeger, visit www.traegergrills.com.
About Trilantic Capital Partners
Trilantic Capital Partners is a private equity firm focused on control and significant minority investments in North America and Europe with primary investment focus in the consumer, energy, financial and business services sectors. Trilantic currently manages four institutional private equity funds with aggregate capital commitments of $5.6 billion.