Weber and Blackstone to merge


 
When I was younger and just starting out, married and a homeowner, a Weber grill was something special.

I remember the advertising around 1993 when I bought the Genesis 1000- “buy your last grill first”

Since I still own and use that grill regularly, I would say that was truth in advertising.

I think of George Stephen as a man who built a company that he was proud of.

Proud of the products he sold, and proud of his employees who he considered as part of his family.

I would hope that the owner of Blackstone is the same type of person.

It would be good to see Weber get back some of it’s mojo from when George Stephen was calling the shots.
 
Blackstone tried to go public a couple years back via a SPAC merger (that never happened). So they were publicly releasing their financials for a while. Which Weber also did until it went back private

Blackstone is smaller than Weber (at least a couple years back) but growing fast and much more profitable than Weber. Sort of what I expected -- newer market segment (griddles) with a lot of room to grow. Versus a more mature business (charcoal and gas grills).

Blackstone Full Year 2022 Guidance
For its fiscal year ending December 31, 2022, Blackstone's outlook for the following financial metrics remains unchanged vs. prior outlook:
  • Net Revenue of $608 million, representing estimated 26% growth compared to 2021.
  • Gross Profit of $132 million, representing estimated 35% growth compared to 2021.
  • Adjusted EBITDA of $81 million, representing estimated 15% growth compared to 2021.

Weber for the fiscal year ended 9/30/2022:
•Fiscal year 2022 net sales decreased 20%, to $1,586 million.
•Net loss decreased to $330 million, or (20.8)% of net sales.
•Adjusted EBITDA decreased 100%, to a loss of $1 million.
 
I am holding out hope that maybe some new blood could help reinvigorate Weber. Maybe some fresh ideas for both sides from what once was the competition.

I just hope they both are thriving when the dust settles from the first 2-3 year of this 'combination' of the 2 big dogs of the outdoor cooking world!
 
Jim C in Denver said:
Blackstone tried to go public a couple years back via a SPAC merger (that never happened). So they were publicly releasing their financials for a while. Which Weber also did until it went back private

Blackstone is smaller than Weber (at least a couple years back) but growing fast and much more profitable than Weber. Sort of what I expected -- newer market segment (griddles) with a lot of room to grow. Versus a more mature business (charcoal and gas grills).

Blackstone Full Year 2022 Guidance
For its fiscal year ending December 31, 2022, Blackstone's outlook for the following financial metrics remains unchanged vs. prior outlook:
  • Net Revenue of $608 million, representing estimated 26% growth compared to 2021.
  • Gross Profit of $132 million, representing estimated 35% growth compared to 2021.
  • Adjusted EBITDA of $81 million, representing estimated 15% growth compared to 2021.

Weber for the fiscal year ended 9/30/2022:
•Fiscal year 2022 net sales decreased 20%, to $1,586 million.
•Net loss decreased to $330 million, or (20.8)% of net sales.
•Adjusted EBITDA decreased 100%, to a loss of $1 million.
Click to expand...
one would hope that Weber turned around their loss to gains. they've had pricing stability in the market which lends me to believe that stable prices equals stable sales. and they channel cleared the SF and now have the SW.

i'm thinking this is a good move for both companies. good synergies. hopefully the innovate and grow markets.
 
I don't think this merge ( I call it take over.....it's similar to what is happening at my work ) will affect me in any way....
It is interesting to learn about but in the end I think the consumer will end up happy.
If I wear out my Weber and need a new one SNS is always an option......
 
Man, I was really thinking Weber had upped their game with the new summit line and the slate griddles. I thought the slate was substantially nicer than Blackstone, but I'm not really impressed with Blackstone in general. Hopefully things go well for everyone!
 
Jim C in Denver said:
Blackstone is the market leader in griddles.

So presumably Blackstone bought Weber for its products and brand in segments other than griddles. Meaning Weber charcoal and Weber gas grills. Not to have Weber Slates compete with or replace Blackstone griddles.
Click to expand...

Not to mention Weber griddles are about $100 more than comparable Blackstones.

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IDK if those are "comparable". One is a 3 burner and another is a 2 burner. From what I've seen of Blackstone and my little exposure to Weber I think they're very comparable in pricing. That being said I also think the Blackstone's look a little more well made and polished. But that's me. Frankly I don't think I'd buy either one (if I ever wanted a griddle). Just not something that catches my fancy. My guess is Weber has something BS needs and BS has something Weber needs. What? Time will tell
 
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