WILSONVILLE, OR - Wood pellet and grill manufacturer Traeger Pellet Grills has sold a "substantial minority interest" to Trilantic Capital Partners, a private equity firm based in New York.
Founded in 1985 in Oregon, Traeger manufacturers wood pellets at three factories, marketing them as an alternative to charcoal briquettes for backyard grillers. The grills use a motorized auger to convey the pellets into a firepot. Traeger sells wood pellets to owners of its specialized grills.
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“Traeger management has developed a very strong product offering and a loyal following,” said Charlie Moore, a partner at Trilantic. ”We look forward to helping the company execute on key growth initiatives going forward, including expanding its management team.”
Last year Traeger began a rollout of Traeger-branded stores in major shopping malls.
Headquartered in Wilsonville, OR, Traeger operates three wood pellet mills in Oregon, Georgia and Iowa, warehouse and logistics locations in Oregon, Colorado and Tennessee, and a facility in Utah where it recruits and trains it sales force. A video below shows its wood pellet manufacturing.
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