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AEA Acquires Traeger Pellet Grills
New York – September 25, 2017 – AEA Investors’ (“AEA” or the “Firm”) Middle Market Private Equity team announced today that its fund has closed on an interest in Traeger Pellet Grills Holdings LLC (“Traeger” or the “Company”). Traeger is the number one selling wood pellet grill in the world.
Traeger Grills was founded in 1986 when Joe Traeger invented the first wood pellet grill, starting a grilling revolution behind a product that has continued to evolve and currently includes a highly mechanized process using all-natural wood pellets and convection to consistently create the tastiest food across multiple forms of cooking. Traeger is an authentic brand and a category creator that significantly outperforms traditional gas and charcoal brands on the most important consumer attributes including versatility, taste, ease of use and consistency. AEA’s investment represents an exciting opportunity to invest in a fast growing, transformational product and brand with a diverse set of growth opportunities including new customers across mass, specialty and outdoors, as well as enhanced marketing initiatives, increased brand awareness and international expansion.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services.
About Traeger Pellet Grills
Traeger Grills, headquartered in Salt Lake City, has been revolutionizing BBQ grilling and outdoor cooking for over 30 years with one simple, all-encompassing cooking solution. Traeger Grills use 100% all-natural hardwood fuel to infuse food with flavorful smoke, making food taste delicious and most of all, memorable. As the inventor of the original and world’s top selling wood-fired grill, Traeger utilizes wood-fired convection power to provide 6-in-1 versatility; grill, smoke, bake, roast, braise and BBQ meals to perfection every time.
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