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Traeger Extends Brand Offering With the Launch of ‘Traeger Provisions’ Meal Boxes
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Traeger Grills (NYSE: COOK) launched Traeger Provisions, a new cooking experience offering meal boxes with premium ingredients and instructions for easy preparation. These boxes cater to 4-16 people and include options like Wagyu beef brisket and Berkshire St. Louis ribs, priced between $100 and $300. With a market opportunity of $20 billion, Traeger anticipates reaching 1 million customers. Following a successful test phase, 92% of consumers expressed intent to repurchase.
Positive
Launch of Traeger Provisions offers a new revenue stream.
Strong consumer interest with 92% intent to repurchase.
Market opportunity estimated at $20 billion.
Negative
None.
SALT LAKE CITY--(BUSINESS WIRE)--
Traeger Grills ("Traeger") (NYSE: COOK), the creator and category leader of the wood pellet grill, today announced the launch of Traeger Provisions, an elevated home-cooking experience that provides high-quality ingredients and special instructions to prepare, cook, and serve an unforgettable meal.
Traeger Provisions is a new, elevated home-cooking experience that provides high-quality ingredients and special instructions to prepare, cook, and serve an unforgettable meal. (Photo: Business Wire)
The all-inclusive meal boxes serve four to 16 people and are available in the continental US. Customers have the opportunity to customize their meal box with a choice of premium cuts of high-quality protein, including Wagyu beef brisket, Berkshire St. Louis ribs, and Poulet Rouge chicken, paired with rubs, sauces, and extras, to mix and match with a variety of flavorful smokehouse side dishes, like bourbon baked beans with bacon, and mac and cheese with herbed breadcrumbs. Each meal box was thoughtfully crafted by Traeger’s own in-house culinary team, with proteins responsibly sourced from premium trusted suppliers, and carefully sealed, frozen, and shipped to preserve flavor and freshness. These premium boxes are designed to be served for any occasion, making cooking easy and convenient, and at a value, with prices ranging from $100 to $300 based on protein selection and box size. Moving forward, Traeger anticipates a market opportunity of up to $20 billion with the ability to reach 1 million customers over next several years.
“Traeger Provisions continues to push the boundaries of what’s possible for every home cook to make in their own backyard,” said Traeger Grills CEO, Jeremy Andrus. “In response to consumer demand for home cooking options, we are empowering consumers with inspiration, high-quality ingredients, and direction to easily create an exceptional culinary experience right at home. As a premium addition to our consumables category, this is a natural extension of our brand and offers a new occasion for our Traegerhood community and for new customers to experience and enjoy Traeger. Following a six-month test in four markets, we are extremely pleased with the strong response, with 92% of participants expressing intent to purchase again, and 58% indicating interest in four or more boxes per year.”
Traeger is bringing in Thanksgiving with limited-edition meal options leading up to the holiday, including chef-selected turkey halves for large or small gatherings, or an Italian-style Porchetta for those looking to start a new tradition. Both meals are paired with elevated versions of classic holiday sides, desserts, and snacks, such as apricot, mushroom and bacon stuffing, mashed potatoes with roasted garlic compound butter, and pumpkin pie.
ABOUT TRAEGER GRILLS®
Traeger Grills, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, a versatile and easy to use outdoor cooking system. Traeger pellet grills use all-natural hardwood fuel to infuse food with flavorful smoke, making food taste delicious and most of all, memorable. Traeger pellet grills utilize wood-fired convection power to provide 6-in-1 versatility; owners can grill, smoke, bake, roast, braise and barbecue meals on one cooking system.
