Griddle Maker Blackstone Products to Go Public in $780 Million SPAC Deal with Ackrell SPAC Partners
Blackstone Products is merging with a special-purpose acquisition company to go public in a combination that values the griddle maker at roughly $780 million, the companies said.
The deal adds to a wave of investment activity for makers of outdoor cooking equipment, with more consumers preparing food at home during the coronavirus pandemic. Well-known grill makers Weber Inc. and Traeger Inc. went public through traditional initial public offerings earlier this year, as did Solo Brands Inc., owner of the popular Solo Stove outdoor fire-pit brand.
Blackstone Products is combining with Ackrell SPAC Partners I Co. (NASDAQ: ACKI), a blank-check company focused on the consumer-goods sector.Read more