Hamilton Beach Brands Holding Company (NYSE:HBB) is looking for M&A. Sally Cunningham, Senior Vice President and Chief Financial Officer said during the Third Quarter 2023 Earnings Conference Call and Webcast, "we've allocated the cash flow to reduce debt, right? And we're getting it down to a comfortable level. I think we've talked about 1.5 to 2x EBITDA, right, as a comfortable debt level.

And so as we look out, I think we'll continue to have the viewpoint that we want to allocate free cash flow to our strategic initiatives and opportunistically to M&A where it makes sense. -- specifically, which initiatives, I think we're still working through right now. But certainly, we want them to be growth drivers".