Worthington Enterprises Acquires HALO Products Brand

COLUMBUS, Ohio, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Worthington Enterprises, Inc. (NYSE: WOR), a designer and manufacturer of market-leading brands that help enable people to live safer, healthier and more expressive lives, today announced it is adding HALO-branded pizza ovens, pellet grills, griddles and accessories to its portfolio of outdoor living products.

As consumers increasingly seek new ways to elevate outdoor experiences, easy-to-prepare, high-quality food is a differentiator that can transform the experience, according to Steve Caravati, president, Consumer Products, Worthington Enterprises.

“HALO’s innovative pizza ovens, pellet grills and griddles are disrupting the outdoor culinary experience,” said Caravati. “HALO, combined with our other leading outdoor living brands such as Coleman portable propane tanks and Bernzomatic torches, fuel and accessories, are a natural match and powerful combination. This acquisition expands our presence in the attractive outdoor living segment. We look forward to leveraging our ecommerce platform, robust marketing infrastructure and retail partnerships to help grow the HALO brand.”

Michael Giebel, co-founder and chief executive officer, HALO Products Group, will be chief product development officer for the HALO product line.

Giebel said, “I am excited for our team to now be part of a larger consumer brands company that is strategically capitalizing on growth opportunities in the outdoor living segment. I believe that Worthington’s experience and relationships in the outdoor market – paired with its people-first culture – will accelerate the HALO brand faster than we could on our own. I am personally eager to focus on my passion of product innovation.”

HALO is an innovative, asset-light, niche business with technology-enabled solutions catering to the changing trends of how people cook, gather and enjoy. Several of HALO’s products are designed for increased portability and can connect via wireless network or Bluetooth for mobile app-based control of cook time, grill temperature and other performance-related functions.

As a result of the transaction, Worthington Enterprises is acquiring an 80 percent ownership stake in an affiliate of HALO Products Group. HALO, which is based in Elizabethtown, Kentucky, and employs approximately 25 people, generated net revenue of $7 million in 2023. Giebel, along with Paul Simon and Richard Fan, founded the business in 2020 with a vision to “rise above” market standards with superior products and customer experiences.