We covered that Pit Boss was starting to sell at Home Depot, so the logical assumption was we’d also see Lowe’s start selling Traeger. That change-up in the grill retail landscape is coming true as Traeger announced in their earnings call today that they will load-in their products at Lowe’s in Q4 with a full launch coming in Spring 2027.

Exclusivity had been the reality of the grill retail environment until now. Home Depot and Ace Hardware carried Traeger, while Lowe’s carried Pit Boss. That going away will make for a very interesting competitive environment next grilling season.

Having the right products is critical, but so is making sure consumers can find them where they shop. That’s why I’m excited to announce that Traeger will expand distribution into Lowe’s nationally with initial load-in activity beginning in Q4 of this year and a full launch of grills, griddles, accessories and consumables planned for spring 2027. This is one of the most meaningful distribution expansions in Traeger’s recent history and broadens access to the brand, strengthens our presence in underpenetrated markets and creates a powerful new platform for household acquisition and long-term growth.

While the Lowe’s load-in contributes to 2026 revenue, we also expect offsets within our existing partners as certain exclusive arrangements evolve. These offsets were anticipated as part of the transition and do not change the strategic importance of our long-standing retail relationships. Importantly, broader distribution increases our ability to invest behind the Traeger brand across the marketplace. As we scale the business, we can support more retail media, merchandising and consumer activation programs that strengthen our retail partnerships and improve the consumer experience. This quarter alone at the Home Depot, we expanded pallet racks, invested in 3D displays and supported more than 9,000 in-store event days through our RSS program.

Jeremy Andrus, CEO of Traeger

Traeger’s expansion into Lowe’s gives them access to additional customers. While some metros have both Lowe’s and Home Depot stores nearby, others have one or the other. An example of this is Lowe’s has focused more on rural customers in recent years.

When Traeger got rid of their DTC business, they may have lost access to certain customer segments. Selling through Lowe’s should be additive in those areas.

I would say, first of all, I think it’s important to think about the addition of Lowe’s as a long-term growth opportunity. If you were to look at our other channel partnerships, they really do develop over many years. And this will be the same. There is — the motivation behind it really was to gain access to a greater TAM. We have incredible retail partners whom we appreciate and we will continue to invest in.

In fact, this new partnership will give us some scale and greater ability to invest in those partners and in the marketplace to drive demand. And we’re very excited about the partnership with Lowe’s. It gives us access to some incremental — to an incremental consumer, both in terms of geography where there’s a strong footprint, and we’ll focus in those geographies, but also in terms of just the shop room Lowe’s, we believe, to some degree, being incremental relative to other channels that we’re in.

In terms of incrementality of the business, while we’re certainly not guiding to future years, I would say there are puts and takes. There were certain elements of partnership in place around exclusivity where there was mutual investment in those retailers and back into the Traeger brand. Some of those which will continue and others, which will no longer be benefits that we receive. We certainly expected this in as we built out the channel strategy and our expectation is that long term, it’s a meaningful growth driver to the business that will allow us to leverage our platform to access new consumers. But I wouldn’t see it as a near-term step function from a business growth perspective.

It’s an opportunity to invest over the course of many years to really get to those new consumers while maintaining very strong channel partnerships with our existing partners. I think the underlying sort of tenet of our channel strategy is to really ensure that we are disciplined in terms of number of points of distribution and how we invest in each of those points of distribution. We have a brand in a category that requires a meaningful amount of retail space to assort the brand the right way. We’re still selling what is considered to be an innovation to most outdoor grillers. It’s a wood pellet grill. It has different features and benefits. There’s still a lot of work to bring that to life at retail. And so it really does require investment in every point of sale, which is why we view this as an opportunity to create a long-term building process with Lowe’s and side-by-side or other channel partnerships with the belief that it’s a rising tide for all over time.

Jeremy Andrus, CEO of Traeger

It’s not all positive though for Traeger to add Lowe’s. Home Depot was a big partner for them because they invested in the relationship. They built Traeger activations in their store that helped educate consumers and promote the brand. They also heavily featured them in seasonal advertising.

If that exclusivity goes away, it seems unlikely that Home Depot would want to invest so heavily in that relationship. They wouldn’t want to promote and invest in a product for their main competitor.

So Joe, referring to the latter, there’s a balancing act between number of retail partners and points of distribution and sort of shared commitment and what that means in terms of assortment that we receive on floor, investments that our retail partners make in our brand, whether they be fixtures, marketing benefits, things like that. And with the expansion of retail that I think it motivates some retailers to also expand their offering and to take some of those investments that they would have otherwise put behind the brand to spread them across other brands.

And so really referring to that, we have notified our largest channel partners. And in some cases, they chose to take that as an opportunity to think slightly differently about their assortment and their investment in our brand. And again, that’s natural as part of the channel strategy. I think the onus is on us to prove to our channel partners that the right incremental distribution should be additive to the overall Traeger brand and our ability to invest to drive — really to drive effective activation at retail, not just new channel, but existing partners.

But no question that it changes the dynamics slightly. And so there is — the assortment changes and that change in assortment and retail space also leads to some impact to revenue in those current partners.

Jeremy Andrus, CEO of Traeger

Traeger has a dedicated following on social media that helps build excitement for the brand. This is in addition to that massive efforts the Traeger team invests in building their brand.

We’ll see if some of that brand image to command a higher ASP was also due to exclusivity. The scarcity and marketing at Home Depot likely contributed to view of their brand. Now they’ll be competing side by side with Pit Boss, and the retailer is less invested in picking a side.

This isn’t just for grills either. Traeger relies on stickiness from grill sales to trickle down to pellet sales and accessories. They will be competing on those products as well at retail come next year.