American Outdoor Brands, Inc. announced it has completed the acquisition of substantially all of the assets of Grilla Grills, a provider of barbecue grills, Wi-Fi-enabled wood pellet grills, smokers, accessories, and modular outdoor kitchens, for $27 million in cash, or approximately $24 million after factoring in the future tax benefit resulting from the asset purchase.
The acquisition of Grilla allows American Outdoor Brands to enter the estimated $7 billion, U.S. barbecue grill market with a direct-to-consumer brand that can benefit from its Dock & Unlock strategy and drive growth in its outdoor lifestyle product category.
The signing of the definitive purchase agreement for the acquisition was previously announced on March 10.
