Was this a SPAC- AOUT American Outdoor Brands (NASDAQ:AOUT) announced that it has completed the $27M acquisition of Grilla Grills. Grilla Grills is described as a provider of high-quality, barbecue grills Wi-Fi-enabled wood pellet grills, smokers, accessories, and modular outdoor kitchens. The deal price was $24M after factoring in the future tax benefit resulting from the asset purchase. The company said the Grilla acquisition will allow it to enter the $7B U.S. barbecue grill market with an authentic, direct-to-consumer brand that can benefit from the company's Dock & Unlock strategy and drive growth in the company's outdoor lifestyle product category. The deal also places American Outdoor Brands (AOUT) in competition with Weber Inc. (NYSE:WEBR).
The signing of the definitive purchase agreement for the acquisition was previously announced on March 10, 2022, and a copy of that announcement can be found at https://ir.aob.com/news-releases/news-release-details/american-outdoor-brands-acquire-grilla-grills. Grilla is a provider of high-quality, barbecue grills; Wi-Fi-enabled wood pellet grills; smokers; accessories; and modular outdoor kitchens. Established in 2015, the product of founders in the construction and automotive industries, Grilla produces innovative, feature-rich outdoor grills and accessories that incorporate modern designs, and are built from durable materials for longevity and durability. Grilla keeps its products popular and affordable by selling directly to consumers, primarily online and through two retail locations in Holland, Michigan and Dallas, Texas. For more information on the full line of Grilla products, visit www.grillagrills.com.
Well, it has had quite a run. Dow stocks always pullback. So I know you're baiting me here; I'll do a Stoney then... "CAT has been removed from the Bare Essential portfolio. $232 (+23%)" $189 to $232 in a month goes down in the savant hall of fame btw... for a Dow stock that is. No one has ever done that before. Unheard of. To me it was obvious though. Just like we have a political section in the basement here Stoney, which I referred you to earlier when you were going on about Trump, Disney, and a myriad other things that have zero to do with picking winning stocks... there's also a Hall of Fame forum down there. Of course this post will never make it down there... but just for GBA's hall of fame: ~the Eggman AND the Walrus
Sunbeam Dunlap took over as chairman and CEO of Sunbeam in 1996.[21] His methods resulted in Sunbeam's reporting record earnings of $189 million in 1997.[22] On March 3, 1998, Sunbeam announced the acquisitions of camping gear maker Coleman Company, coffee machine maker Signature Brands (best known for making Mr. Coffee), and smoke detector maker First Alert. Sunbeam's stock rose 9% on the news.[23] In the second quarter of 1998, the board of directors of Sunbeam investigated aggressive accounting practices and extreme discounting carried out at the direction of Dunlap. On June 13, 1998, Dunlap was fired.[24] As the fraud was further uncovered in late 1998, Sunbeam was forced a number of times to restate financial results dating back to 1996.[25][26][27] In 2001, the U.S. Securities and Exchange Commission sued Dunlap, alleging that he had engineered a massive accounting fraud. Also named in the suit were four other former Sunbeam executives and Phillip E. Harlow, the lead partner for Sunbeam's account with Arthur Andersen.[28] An SEC investigation revealed that Dunlap and others had created the impression of a greater loss in 1996 in order to make it look like the company had experienced a dramatic turnaround in 1997. By the SEC's estimate, at least $60 million of Sunbeam's 1997 earnings were fraudulent.
I'm already getting fan mail from all our readers Stoney thanking me for warning them off this call. You've said numerous times you never play in the extended sessions.... tonight was no time to cut your teeth and lead folks astray. I'll tell ya what... you should wake up daily and give thanks to the heavens above GBA has moi. It would be defunct by now if not. j/k Stoney.