Weber Inc. Announces Closing of Take-Private Transaction by BDT Capital Partners
Palatine, Ill. (February 21, 2023) – Weber Inc. (NYSE: WEBR) (“Weber” or the “Company”), the global leader in outdoor cooking products, innovation, and technology, today announced the closing of its take-private transaction by investment funds managed by BDT Capital Partners, LLC (“BDT”).
On December 12, 2022, Weber announced that BDT funds had signed a definitive agreement to purchase all of the outstanding shares of Weber Class A common stock that they did not already own for $8.05 per share, representing a total enterprise value of $3.7 billion.
“For over seven decades, Weber has been steadfast in its commitment to bring joy, fun, and moments of true human connection through outdoor cooking to spaces and places worldwide,” said Weber CEO Alan Matula. “With BDT’s continued support, we stay true to this mission as we progress in executing our long-term strategy and ensuring that we bring the industry’s highest performing, highest quality, and most innovative experiences to our customers and growing community of Weber owners.”
Effective as of the closing of the transaction, trading of Weber’s Class A common stock has been suspended on the New York Stock Exchange (the “NYSE”) and Weber has requested that its Class A common stock be delisted from the NYSE.
About Weber Inc.
The Company, headquartered in Palatine, Ill., is the world’s leading barbecue brand. The Company’s founder George Stephen, Sr., established the outdoor cooking category when he invented the original kettle charcoal grill 70 years ago. The Company offers a comprehensive, innovative product portfolio, including charcoal, gas, pellet and electric grills, griddles, smokers, and accessories designed to help outdoor cooking enthusiasts discover what’s possible. The Company offers its barbecue grills, accessories, services, and experiences to a passionate community of millions across 78 countries.
About BDT Capital Partners
BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital through its investment funds. It is an affiliate of BDT & MSD Partners, a merchant bank with an advisory and investment platform built to serve the distinct needs of business owners and strategic, long-term investors. Since 2010, BDT & MSD Partners’ affiliated funds have deployed more than $50 billion across their investment strategies. For more information, visit www.bdtmsd.com.