Wood pellet firm sells ‘substantial’ stake

US wood pellet and grill manufacturer Traeger Pellet Grills (TPG) has sold part of its business to private equity firm Trilantic Capital Partners (TCP).

TPG reportedly called the sale a ‘substantial minority interest’ while New York-based TCP says it ‘saw potential in Traeger for expansion’. That thought follows the installation of Traeger-branded shops into shopping centres.

TPG operates three pellet mills each based in Oregon, which is also home to its headquarters, Iowa and Georgia.