American Outdoor Brands (AOUT), the parent company of Grilla Grills, has repeatedly said during their earnings calls that acquisitions are part of their growth strategy. They’ve grown in the past through M&A, including with Grilla.

We are seeing a few changes. I would say the ice is beginning to break a little bit. I think if — why is that? I do think that because tariffs have kind of paused somewhat, we’re not seeing as many drastic changes I think that companies are now able to demonstrate some level of run rate performance where they can go to market. We’re seeing a few instances where a family-owned businesses are at a point where, look, the last 5 years has dealt the industry, a lot of change. And it’s been — if you’re a family run business that can be a challenge if you don’t have resources like we do.

So we’re seeing opportunities like that come to market. We also believe that there will be some bigger assets that will be surfacing here in the next 6 months, possibly some divestitures. And so we’re keeping an eye on those and at the same time, continuing to cultivate our own pipeline. So if you were to ask my excitement level now versus 3 months ago, I would say I’m much more excited about the opportunities that are coming up right now.

Brian Murphy, President and CEO of AOUT – Q2 ’26 Earnings Call

Engaging with banks and brokers on the buy-side can be expensive, they often don’t understand your business, and they’re gone once the transaction closes. Building out a corporate development function is the better choice if a company is going to be active in M&A.

AOUT is doing that with a newly created role. They’ve hired Tyler Lindwall to the position of VP of Corporate Development. He’ll look at acquisition opportunities to support AOUT’s inorganic growth strategy.

We’ve long said that acquiring complementary brands where we can plug-in our innovation capabilities represents a tremendous opportunity to accelerate growth and expand margins, creating long-term value for our shareholders. Tyler brings extensive experience in corporate development, strategic planning, and transactions within the outdoor and broader consumer products space, making him an ideal addition to help execute our long-term strategy.

Having worked with Tyler previously on several acquisitions, I have seen firsthand his thoughtful approach, sound judgment, and ability to execute. As we continue to advance our long-term strategy, including selectively pursuing acquisitions that align with our strong innovation capabilities, his experience will be valuable in helping us identify and act on the right opportunities.

Brian Murphy, President and CEO of AOUT

Tyler Lindwall brings a background that should be pretty much plug-and-play for the role. He worked in corporate development at Vista Outdoor for over nine years, which had a very similar business model to AOUT.

Vista Outdoor had an outdoor segment and a shooting segment, and grew through acquisition, including by acquiring Camp Chef. They broke the business up into two separate companies and the outdoor segment became Revelyst, and sold to an investment firm.

Tyler Lindwall was there through all of that, including being with Revelyst since the separation. He also overlapped time in corporate development at Vista Outdoor when Brian Murphy was there, which he referenced in his quote.

With the post-Pandemic come-down of the outdoor space overall, the consumer headwinds, and the ever-changing tariff and geopolitical environment, there are plenty of opportunities for acquisition. The outdoor cooking industry has seen quite a bit of consolidation over the past five years, and I think we’ll still see it continue quite a bit for the foreseeable future.

It’s a matter of figuring out what brands have value and are just distressed because of all of the headwinds, and not because they’re a broken business. If you’re well capitalized though and can navigate some rough seas for a couple years, it’s a great time to buy. We’ll eventually be out of this downturn and I think we’ll see natural tailwinds combine with the pent-up grill replacement cycle.