Grill Makers Are the Hottest Things in Post-Pandemic IPOs
Companies that thrived on lockdown lifestyles are rushing to cash in.
Buoyed by a rush of locked-down homeowners investing in high-end barbecue gear, grill makers are taking advantage of soaring sales to go public.
Within a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings. Traeger Inc. and Weber Inc., the biggest American manufacturers of barbecue grills, will tap public investors for the first time this summer after decades of being closely held. And BBQGuys, an online retailer of grills, outdoor kitchens, and other accessories, whose investors include football greats Eli and Peyton Manning, is in talks to go public through a merger with Velocity Acquisition Corp., according to people with knowledge of the matter. The combined company is set to be valued at about $900 million, including debt, they say.