Grill Makers Are the Hottest Things in Post-Pandemic IPOs

Bloomberg2021-07-16

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 ...

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Comments

blackmetal
2021-07-16
blackmetal
Wow. Unbelievable
- Cfgramos:
  Awesomeness
w3ng
2021-07-16
w3ng
Ooo
Zysel
2021-07-16
Zysel
Ok
- amira:
  :)
Leston
2021-07-16
Leston
hi
NekoCatBin
2021-07-16
NekoCatBin
Like comment thankssss meow
Tongs
2021-07-16
Tongs
Alright
- NekoCatBin:
  Ok
- Zysel:
  Ok

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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 withVelocity 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.\nSo-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.\n\nSales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.\nAdd together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”\nWhat makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio & Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.\nOne banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.\nAcross the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.\nSixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY\nSales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.\nOver the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.\nAs with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.\nSome industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.\nLikewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.\nGrill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.\nJoe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":170240474,"gmtCreate":1626438905098,"gmtModify":1703760160769,"author":{"id":"3576318339568790","authorId":"3576318339568790","name":"blackmetal","avatar":"https://static.tigerbbs.com/fcf35b941f4aacd314b36e1f1d2b9bc5","vip":1,"crmLevel":9,"crmLevelSwitch":0,"idStr":"3576318339568790","authorIdStr":"3576318339568790"},"htmlText":"Wow. Unbelievable","listText":"Wow. Unbelievable","text":"Wow. Unbelievable","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170240474","repostId":1179986953,"repostType":4,"repost":{"id":"1179986953","pubTimestamp":1626433693,"share":"https://ttm.financial/m/news/1179986953?lang=&edition=fundamental","pubTime":"2021-07-16 19:08","market":"us","language":"en","title":"Grill Makers Are the Hottest Things in Post-Pandemic IPOs","url":"https://stock-news.laohu8.com/highlight/detail?id=1179986953","media":"Bloomberg","summary":"Buoyed by a rush of locked-down homeowners investing in high-end barbecue gear, grill makers are tak","content":"<p>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.</p>\n<p>Within a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.</p>\n<p>So-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.</p>\n<p><img src=\"https://static.tigerbbs.com/00df86096f9dd75f654d059dfebf1c92\" tg-width=\"1245\" tg-height=\"588\" referrerpolicy=\"no-referrer\"></p>\n<p>Sales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.</p>\n<p>Add together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”</p>\n<p>What makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio &amp; Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.</p>\n<p>One banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.</p>\n<p>Across the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc34d69cb6102c792aa801a9dfa2ddc8\" tg-width=\"1400\" tg-height=\"933\"><span>Sixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY</span></p>\n<p>Sales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.</p>\n<p>Over the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.</p>\n<p>As with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.</p>\n<p>Some industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.</p>\n<p>Likewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.</p>\n<p>Grill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.</p>\n<p>Joe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grill Makers Are the Hottest Things in Post-Pandemic IPOs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrill Makers Are the Hottest Things in Post-Pandemic IPOs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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.\nWithin a week of the traditional U.S. barbecuing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179986953","content_text":"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.\nWithin a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.\nSo-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.\n\nSales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.\nAdd together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”\nWhat makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio & Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.\nOne banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.\nAcross the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.\nSixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY\nSales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.\nOver the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.\nAs with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.\nSome industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.\nLikewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.\nGrill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.\nJoe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5239825,"gmtCreate":1626439353547,"gmtModify":1635227819628,"authorId":3577318628836449,"author":{"id":3577318628836449,"idStr":"3577318628836449","authorId":3577318628836449,"name":"Cfgramos","avatar":"https://static.tigerbbs.com/8e4f5dee285970cb0d50c61a4302a33f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170240474,"type":1,"supId":0,"prevId":0,"content":"Awesomeness","text":"Awesomeness","html":"Awesomeness"}],"langContent":"EN"},{"id":170286289,"gmtCreate":1626436123541,"gmtModify":1703760109977,"author":{"id":"3575429808177711","authorId":"3575429808177711","name":"w3ng","avatar":"https://static.tigerbbs.com/b764c45dc5b2320b176c9174bd391180","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575429808177711","authorIdStr":"3575429808177711"},"htmlText":"Ooo","listText":"Ooo","text":"Ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170286289","repostId":1179986953,"repostType":4,"repost":{"id":"1179986953","pubTimestamp":1626433693,"share":"https://ttm.financial/m/news/1179986953?lang=&edition=fundamental","pubTime":"2021-07-16 19:08","market":"us","language":"en","title":"Grill Makers Are the Hottest Things in Post-Pandemic IPOs","url":"https://stock-news.laohu8.com/highlight/detail?id=1179986953","media":"Bloomberg","summary":"Buoyed by a rush of locked-down homeowners investing in high-end barbecue gear, grill makers are tak","content":"<p>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.</p>\n<p>Within a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.</p>\n<p>So-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.</p>\n<p><img src=\"https://static.tigerbbs.com/00df86096f9dd75f654d059dfebf1c92\" tg-width=\"1245\" tg-height=\"588\" referrerpolicy=\"no-referrer\"></p>\n<p>Sales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.</p>\n<p>Add together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”</p>\n<p>What makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio &amp; Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.</p>\n<p>One banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.</p>\n<p>Across the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc34d69cb6102c792aa801a9dfa2ddc8\" tg-width=\"1400\" tg-height=\"933\"><span>Sixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY</span></p>\n<p>Sales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.</p>\n<p>Over the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.</p>\n<p>As with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.</p>\n<p>Some industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.</p>\n<p>Likewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.</p>\n<p>Grill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.</p>\n<p>Joe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grill Makers Are the Hottest Things in Post-Pandemic IPOs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrill Makers Are the Hottest Things in Post-Pandemic IPOs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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.\nWithin a week of the traditional U.S. barbecuing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179986953","content_text":"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.\nWithin a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.\nSo-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.\n\nSales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.\nAdd together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”\nWhat makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio & Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.\nOne banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.\nAcross the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.\nSixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY\nSales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.\nOver the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.\nAs with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.\nSome industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.\nLikewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.\nGrill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.\nJoe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170218428,"gmtCreate":1626435108864,"gmtModify":1703760096079,"author":{"id":"4087126595314210","authorId":"4087126595314210","name":"Zysel","avatar":"https://static.tigerbbs.com/9b52da70718834ef5794c0812716f403","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087126595314210","authorIdStr":"4087126595314210"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170218428","repostId":1179986953,"repostType":4,"repost":{"id":"1179986953","pubTimestamp":1626433693,"share":"https://ttm.financial/m/news/1179986953?lang=&edition=fundamental","pubTime":"2021-07-16 19:08","market":"us","language":"en","title":"Grill Makers Are the Hottest Things in Post-Pandemic IPOs","url":"https://stock-news.laohu8.com/highlight/detail?id=1179986953","media":"Bloomberg","summary":"Buoyed by a rush of locked-down homeowners investing in high-end barbecue gear, grill makers are tak","content":"<p>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.</p>\n<p>Within a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.</p>\n<p>So-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.</p>\n<p><img src=\"https://static.tigerbbs.com/00df86096f9dd75f654d059dfebf1c92\" tg-width=\"1245\" tg-height=\"588\" referrerpolicy=\"no-referrer\"></p>\n<p>Sales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.</p>\n<p>Add together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”</p>\n<p>What makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio &amp; Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.</p>\n<p>One banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.</p>\n<p>Across the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc34d69cb6102c792aa801a9dfa2ddc8\" tg-width=\"1400\" tg-height=\"933\"><span>Sixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY</span></p>\n<p>Sales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.</p>\n<p>Over the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.</p>\n<p>As with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.</p>\n<p>Some industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.</p>\n<p>Likewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.</p>\n<p>Grill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.</p>\n<p>Joe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grill Makers Are the Hottest Things in Post-Pandemic IPOs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrill Makers Are the Hottest Things in Post-Pandemic IPOs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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.\nWithin a week of the traditional U.S. barbecuing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179986953","content_text":"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.\nWithin a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.\nSo-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.\n\nSales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.\nAdd together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”\nWhat makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio & Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.\nOne banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.\nAcross the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.\nSixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY\nSales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.\nOver the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.\nAs with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.\nSome industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.\nLikewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.\nGrill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.\nJoe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5239619,"gmtCreate":1626437479645,"gmtModify":1663231058629,"authorId":3578803975719356,"author":{"id":3578803975719356,"idStr":"3578803975719356","authorId":3578803975719356,"name":"amira","avatar":"https://static.tigerbbs.com/e3fc3ec06313da0892b827c09d7386b4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170218428,"type":1,"supId":0,"prevId":0,"content":":)","text":":)","html":":)"}],"langContent":"EN"},{"id":170238885,"gmtCreate":1626434117547,"gmtModify":1703760083318,"author":{"id":"3575004595046674","authorId":"3575004595046674","name":"Leston","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575004595046674","authorIdStr":"3575004595046674"},"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170238885","repostId":1179986953,"repostType":4,"repost":{"id":"1179986953","pubTimestamp":1626433693,"share":"https://ttm.financial/m/news/1179986953?lang=&edition=fundamental","pubTime":"2021-07-16 19:08","market":"us","language":"en","title":"Grill Makers Are the Hottest Things in Post-Pandemic IPOs","url":"https://stock-news.laohu8.com/highlight/detail?id=1179986953","media":"Bloomberg","summary":"Buoyed by a rush of locked-down homeowners investing in high-end barbecue gear, grill makers are tak","content":"<p>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.</p>\n<p>Within a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.</p>\n<p>So-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.</p>\n<p><img src=\"https://static.tigerbbs.com/00df86096f9dd75f654d059dfebf1c92\" tg-width=\"1245\" tg-height=\"588\" referrerpolicy=\"no-referrer\"></p>\n<p>Sales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.</p>\n<p>Add together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”</p>\n<p>What makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio &amp; Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.</p>\n<p>One banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.</p>\n<p>Across the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc34d69cb6102c792aa801a9dfa2ddc8\" tg-width=\"1400\" tg-height=\"933\"><span>Sixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY</span></p>\n<p>Sales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.</p>\n<p>Over the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.</p>\n<p>As with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.</p>\n<p>Some industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.</p>\n<p>Likewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.</p>\n<p>Grill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.</p>\n<p>Joe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grill Makers Are the Hottest Things in Post-Pandemic IPOs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrill Makers Are the Hottest Things in Post-Pandemic IPOs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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.\nWithin a week of the traditional U.S. barbecuing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179986953","content_text":"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.\nWithin a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.\nSo-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.\n\nSales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.\nAdd together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”\nWhat makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio & Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.\nOne banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.\nAcross the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.\nSixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY\nSales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.\nOver the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.\nAs with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.\nSome industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.\nLikewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.\nGrill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.\nJoe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170239262,"gmtCreate":1626433918056,"gmtModify":1703760077737,"author":{"id":"3574902235266465","authorId":"3574902235266465","name":"NekoCatBin","avatar":"https://static.tigerbbs.com/fc243854847e0bb4cc112b417d854611","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574902235266465","authorIdStr":"3574902235266465"},"htmlText":"Like comment thankssss meow","listText":"Like comment thankssss meow","text":"Like comment thankssss meow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170239262","repostId":1179986953,"repostType":4,"repost":{"id":"1179986953","pubTimestamp":1626433693,"share":"https://ttm.financial/m/news/1179986953?lang=&edition=fundamental","pubTime":"2021-07-16 19:08","market":"us","language":"en","title":"Grill Makers Are the Hottest Things in Post-Pandemic IPOs","url":"https://stock-news.laohu8.com/highlight/detail?id=1179986953","media":"Bloomberg","summary":"Buoyed by a rush of locked-down homeowners investing in high-end barbecue gear, grill makers are tak","content":"<p>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.</p>\n<p>Within a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.</p>\n<p>So-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.</p>\n<p><img src=\"https://static.tigerbbs.com/00df86096f9dd75f654d059dfebf1c92\" tg-width=\"1245\" tg-height=\"588\" referrerpolicy=\"no-referrer\"></p>\n<p>Sales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.</p>\n<p>Add together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”</p>\n<p>What makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio &amp; Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.</p>\n<p>One banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.</p>\n<p>Across the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc34d69cb6102c792aa801a9dfa2ddc8\" tg-width=\"1400\" tg-height=\"933\"><span>Sixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY</span></p>\n<p>Sales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.</p>\n<p>Over the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.</p>\n<p>As with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.</p>\n<p>Some industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.</p>\n<p>Likewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.</p>\n<p>Grill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.</p>\n<p>Joe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grill Makers Are the Hottest Things in Post-Pandemic IPOs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrill Makers Are the Hottest Things in Post-Pandemic IPOs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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.\nWithin a week of the traditional U.S. barbecuing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179986953","content_text":"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.\nWithin a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.\nSo-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.\n\nSales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.\nAdd together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”\nWhat makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio & Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.\nOne banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.\nAcross the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.\nSixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY\nSales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.\nOver the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.\nAs with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.\nSome industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.\nLikewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.\nGrill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.\nJoe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170230705,"gmtCreate":1626433891307,"gmtModify":1703760076425,"author":{"id":"3555822052484377","authorId":"3555822052484377","name":"Tongs","avatar":"https://static.tigerbbs.com/b0a38d6dcec089553bed2e9e999c283a","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3555822052484377","authorIdStr":"3555822052484377"},"htmlText":"Alright","listText":"Alright","text":"Alright","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/170230705","repostId":1179986953,"repostType":4,"repost":{"id":"1179986953","pubTimestamp":1626433693,"share":"https://ttm.financial/m/news/1179986953?lang=&edition=fundamental","pubTime":"2021-07-16 19:08","market":"us","language":"en","title":"Grill Makers Are the Hottest Things in Post-Pandemic IPOs","url":"https://stock-news.laohu8.com/highlight/detail?id=1179986953","media":"Bloomberg","summary":"Buoyed by a rush of locked-down homeowners investing in high-end barbecue gear, grill makers are tak","content":"<p>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.</p>\n<p>Within a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.</p>\n<p>So-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.</p>\n<p><img src=\"https://static.tigerbbs.com/00df86096f9dd75f654d059dfebf1c92\" tg-width=\"1245\" tg-height=\"588\" referrerpolicy=\"no-referrer\"></p>\n<p>Sales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.</p>\n<p>Add together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”</p>\n<p>What makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio &amp; Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.</p>\n<p>One banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.</p>\n<p>Across the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc34d69cb6102c792aa801a9dfa2ddc8\" tg-width=\"1400\" tg-height=\"933\"><span>Sixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY</span></p>\n<p>Sales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.</p>\n<p>Over the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.</p>\n<p>As with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.</p>\n<p>Some industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.</p>\n<p>Likewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.</p>\n<p>Grill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.</p>\n<p>Joe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grill Makers Are the Hottest Things in Post-Pandemic IPOs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrill Makers Are the Hottest Things in Post-Pandemic IPOs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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.\nWithin a week of the traditional U.S. barbecuing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-16/stock-market-grill-makers-traeger-weber-eye-ipos-amid-lockdown-surge","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179986953","content_text":"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.\nWithin a week of the traditional U.S. barbecuing holiday, July Fourth, two companies filed paperwork for initial public offerings.Traeger Inc.andWeber 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 withVelocity 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.\nSo-called stay-at-home trades have proven popular for investors over the past year, as consumers spent more money on their immediate surroundings after being kept away from restaurants, bars, and entertainment venues by state- and countrywide pandemic lockdowns.\n\nSales at both Traeger and Weber have surged, giving the companies some of their best quarterly results ever. Revenue was up 50% at Traeger in 2020, and sales climbed 60% at Weber in the six months through March. One reason: Throwing a few steaks on the barbie doesn’t come cheap these days. Barbecue enthusiasts can spend as much as $4,000 on a Weber gas grill before adding any accessories, and Traeger’s outdoor kitchen setups can run to the tens of thousands of dollars.\nAdd together equity markets that just won’t stop setting record highs, a booming IPO market, and no sign of consumer spending slowing down, and you can see why these long-private enterprises are changing their approach. The pandemic, by keeping people at home, “not only created an economic savings,” says Clayton Hale, Citigroup Inc.’s global head of consumer and retail investment banking, who says he grills on his lunch break about a quarter of the time when he works at home. “But it also created an opportunity for business models to take advantage of a natural shift in consumer sentiment, which is, things are now not just purchased to own, things are being purchased because one has a passion.”\nWhat makes the IPOs even easier to sell is a hefty dose of brand loyalty: Consumer names tend to resonate with investors who have personally used the product. And, according to theHearth, Patio & Barbecue Association, 64% of U.S. adults own an outdoor grill or smoker. In fact, every source contacted during the reporting for this story owns equipment made by at least one of the two soon-to-IPO brands—and often had strong opinions about which is better.\nOne banker says pricey Traeger’s “low and slow” wood pellet style of cooking is of no use when his kids are hungry, and another loves being able to control his Traeger from his phone. One adviser is optimistic there’s room for both companies. “There’s always an American guy who wants to grill,” he says.\nAcross the industry, manufacturers of luxury home goods have been benefiting from the extra money that middle-class American families funneled into improving their homesteads when vacations were out of reach.\nSixty-four percent of U.S. adults own an outdoor grill or smoker, according to an industry association.PHOTOGRAPHER: MARTIN PLAPPERT/ALAMY\nSales of big-ticket items (think stand mixers, grills, and swimming pools) have exploded. Sales of grills and smokers in the U.S. shot up 41%, to $3.2 billion for the 12 months ending in March, according to data from NPD Group.\nOver the past year three companies that manufacture or maintain home swimming pools—Leslies,Hayward Industries, andLatham Group—have gone public, together raising almost $2 billion. Each of the stocks has risen more than 40% since their IPOs.\nAs with most Covid-era growth stories, the question investors want answered is whether sales can continue to rise as rapidly now that consumers in many markets are returning to restaurants and taking vacations. Swimming pools need regular expert cleaning and maintenance; barbecues, not so much.\nSome industries are ripe to ride the growth runway built by the pandemic, but others are beholden to consumers resetting their behaviors. In May,DoorDash Inc.executives warned shareholders of a slowdown as users ditched delivery for summertime activities outdoors now that businesses have reopened. “We expect the combination of summer seasonality, market reopenings, and the waning impact of stimulus to result in some impact to our business in the near term,” the company wrote in a letter to shareholders.\nLikewise, meal-kit makersBlue Apron Holdings Inc.andHelloFresh SEmay be poised to outperform grocery stores, but they’re still likely to see sharp deceleration from their Covid-lockdown pace. According to Coresight Research, the entire market’s growth rate could plummet to 18% in 2021, from the almost 70% seen last year during peak quarantines.\nGrill makers aren’t necessarily using their windfalls for future expansion. Traeger is putting the IPO proceeds toward repaying a loan, plus allowing some existing shareholders to cash out. Weber says it will use all its net proceeds to buy back shares from its holding company, existing shareholders, and management.\nJoe Derochowski, a home improvement industry adviser at NPD Group, says the trend is sustainable for grill makers because there’s no better way to show off your new landscaping, hot tub, or house renovation, after all, than inviting friends over to grill in the yard or garden. A shift towardhybrid work scheduleswould also provide the industry with another growth opportunity in lunchtime meals. “The table is set for grilling,” Derochowski says. “Everything is growing because we’re eating and entertaining more at home.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5239263,"gmtCreate":1626433927018,"gmtModify":1663231060643,"authorId":3574902235266465,"author":{"id":3574902235266465,"idStr":"3574902235266465","authorId":3574902235266465,"name":"NekoCatBin","avatar":"https://static.tigerbbs.com/fc243854847e0bb4cc112b417d854611","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170230705,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":5239389,"gmtCreate":1626435120873,"gmtModify":1663231060250,"authorId":4087126595314210,"author":{"id":4087126595314210,"idStr":"4087126595314210","authorId":4087126595314210,"name":"Zysel","avatar":"https://static.tigerbbs.com/9b52da70718834ef5794c0812716f403","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170230705,"type":1,"supId":5239263,"prevId":0,"content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":44,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1179986953"}