BBQGuys, a specialty e-commerce platform for higher-end barbecue grills, grilling accessories and outdoor living projects, and Velocity Acquisition today said they have mutually agreed to terminate their merger.
The companies in a news release stated they decided to terminate the business combination as a result of current supply chain factors that are affecting the results of the BBQGuys business and timing of closing the transaction.
As announced in July, the deal valued the combined enterprise at $963 million.
Velocity founder Doug Jacob vowed to forge on in pursuit of an acquisition. Read more.
