Grill maker Traeger files for IPO

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The maker of Traeger grills, TGPX Holdings I LLC, said it plans to file for a public listing under the corporate name “Traeger Inc.,” according to a Securities and Exchange Commission filing late Tuesday. Traeger said it plans to trade under the ticker “COOK” on the New York Stock Exchange. The company said it plans to raise $100 million in the offering although that is often a placeholder amount that get changed in subsequent filings. Morgan Stanley, Jefferies, Baird, and William Blair are listed among the underwriters. The company reported revenue of $545.8 million and net income of $3.2 million in 2020, versus revenue of $363.3 million and a loss of $3 million in 2019. Traeger said it makes grills that simplify wood-burning cooking by using proprietary pellets and a smartphone-linked control system, as well as a community of grill owners it calls the “Traegerhood.”

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