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The company that bills itself as making “the world’s first portable AC”, IcyBreeze, has been acquired by Solo Stove parent company, Solo Brands. This adds more outdoor lifestyle products to their portfolio and comes shortly after the acquisition of TerraFlame.
You’ve seen the ads on Instagram featuring spokespeople Deion Sanders and Jeff Foxworthy, for the wheeled cooler that doubles as an outdoor air conditioner. It’s meant to cool you off while playing sports, grilling, camping, or just generally spending time outdoors.
The portable air conditioner works like a traditional AC unit, but with ice cold water, rather than Freon. Cold water is pumped through a coil, then a fan blows air over the coil, rapidly cooling it.
No word of the transaction was mentioned on Solo Brands recent earnings call. We’ll have to wait and see if it will be part of Solo Stove or a standalone brand under the Solo Brands umbrella.
According to an SEC filing the transaction was closed on July 1, 2023, for a cash value of $30 million.