The Cooper Parry Corporate Finance team recently sealed another international deal, advising the shareholders of Apption Labs – creators of the MEATER range, as it was acquired by Traeger Grills in the US.
Based in Leicester, Apption Labs’ MEATER is a leader in wireless smart meat thermometers, taking the guess work out of cooking so users can cook meats perfectly every time.
The acquisition comes at an opportune moment for the team. They recently picked up two highly prestigious Queen’s Awards for Enterprise for outstanding achievement in Innovation and International Trade – and it’s this stomach-rumbling appetite for disruption and pushing boundaries that makes Apption Labs and MEATER the perfect fit for Traeger Grills.
Headquartered in Salt Lake City, Traeger has been at the forefront of outdoor cooking technology since the ‘80s. Its wood-pellet grill blazed a trail in the industry and remains a #1 seller worldwide, and through its WiFIRE technology, Traeger has created a connected cooking platform that allows users to remotely control and monitor their grill via a smartphone and other smart devices.
The acquisition of MEATER expands Traeger’s portfolio of home cooking devices, marking a significant step forward in its pursuit of “the ultimate connected grilling experience”.
The Cooper Parry Corporate Finance team was led by Ben Rookes, Niall Chantrill and Ollie Macildowie. We also provided Transactional Tax support on the deal, which was led by Linda Marston-Weston, our Partner & Head of Transaction Tax.
Niall Chantrill, Director at Cooper Parry Corporate Finance, said:
“We are thrilled to have supported the MEATER team on this landmark deal with Traeger. Working with such innovative, high-growth businesses – like Apption Labs – is what we pride ourselves on. The growth journey the business has been on over the past few years has been nothing short of phenomenal and is testament to the hard work of every member of the Apption team.
“We are incredibly proud to have supported on this transaction and we wish the team all of the success as they embark on the next phase of their growth journey.”