WEBR - American Outdoor Brands enters grill market through acquisition

American Outdoor Brands (NASDAQ:AOUT) announced that it has completed the $27M acquisition of Grilla Grills. Grilla Grills is described as a provider of high-quality, barbecue grills Wi-Fi-enabled wood pellet grills, smokers, accessories, and modular outdoor kitchens. The deal price was $24M after factoring in the future tax benefit resulting from the asset purchase. The company said the Grilla acquisition will allow it to enter the $7B U.S. barbecue grill market with an authentic, direct-to-consumer brand that can benefit from the company's Dock & Unlock strategy and drive growth in the company's outdoor lifestyle product category. The deal also places American Outdoor Brands (AOUT) in competition with Weber Inc. (NYSE:WEBR).

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American Outdoor Brands enters grill market through acquisition