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BANK OF AMERICA CORPORATION

(BAC)
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Outdoor grills maker Weber files for U.S. IPO

07/12/2021 | 08:44am EDT

July 12 (Reuters) - Outdoor grills maker Weber Inc on Monday filed paperwork with U.S. regulators for an initial public offering, revealing a 62% year-on-year growth in revenue for the six months ended March 31.

The company, whose products include gas, electric and charcoal grills, said revenue growth was driven by the increasing adoption of an outdoor lifestyle.

Weber joins a clutch of companies which have filed for stock market listings in recent weeks to cash in on a market that is flush with funds as capital markets see record high levels of activity.

Weber did not reveal the number of shares or the target price range of the offering in the filing. (https://bit.ly/3r6hfC8)

Its listing plans come weeks after wood pellet grill maker Traeger Inc filed for an IPO. (https://bit.ly/3ecr63M)

In October, Weber had raised around $1.55 billion in debt in a round led by Bank of America.

The company has a 23% market share in the United States and a 24% share globally, according to a Frost & Sullivan report cited in its filing.

Weber was founded by George Stephen Sr, who invented the Weber Kettle, a dome shaped charcoal grill about 70 years ago. BDT Capital Partners, a U.S. fund run by Warren Buffett's banker Byron Trott, holds a controlling interest in the company in partnership with the Stephen family and management.

The company has applied to list its shares on the New York Stock Exchange under the ticker symbol "WEBR".

Goldman Sachs, BofA Securities and J.P. Morgan are among the underwriters for the offering.

(Reporting by Sohini Podder in Bengaluru; Editing by Amy Caren Daniel)


© Reuters 2021
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Financials (USD)
Sales 2021 87 576 M - -
Net income 2021 28 015 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,4x
Yield 2021 1,91%
Capitalization 341 B 341 B -
Capi. / Sales 2021 3,89x
Capi. / Sales 2022 3,73x
Nbr of Employees 212 000
Free-Float 98,0%
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Number of Analysts 26
Last Close Price 40,50 $
Average target price 43,85 $
Spread / Average Target 8,28%
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Managers and Directors
Brian T. Moynihan Chairman, President & Chief Executive Officer
Paul M. Donofrio Chief Financial Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Andrea B. Smith Chief Administrative Officer
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