Weber Board Approves Transaction With BDT Capital Partners

(RTTNews) - Weber Inc. (WEBR) said a special committee of the Board has unanimously recommended that the Board approve the transaction with BDT Capital Partners. Acting upon the recommendation, Weber's Board approved the transaction. As a result, the company entered into a definitive merger agreement pursuant to which investment funds managed by BDT Capital Partners LLC will purchase all of the outstanding Class A Shares that they do not already own, for $8.05 per Class A Share, which implies a total enterprise value of $3.7 billion for Weber. Upon completion, Weber will become a privately held company majority owned by investment funds managed by BDT. The deal is expected to close in the first half of 2023.

In connection with the transaction, BDT managed investment funds will provide Weber with an additional unsecured loan facility in the aggregate principal amount of $350 million. Weber plans to utilize the loan for general corporate purposes.