Solo Brands stated in a regulatory filing that it has sold TerraFlame back to the individuals from whom it acquired the business in May 2023 for $2.5 million.
As part of the sale back to the sellers, Solo Brands reached an agreement whereby it will continue manufacturing the products currently branded under the TerraFlame trademark and sell them to the individuals reacquiring TerraFlame to support its continued distribution.
Solo Brands also terminated employment and consultancy agreements related to the original sale.
As part of the sale, TerraFlame’s team joined Solo Brands, with Lenny Vainberg, CEO and founder of Solo Brands, appointed as TerraFlame’s general manager.
Image courtesy Solo Brands/TerraFlame
