OPERATORS Thrasio Bought It, Ben Bought It Back: A Founder Who Lived It Tells All
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Feb 4, 2026 
Ben Leonard, founder of Beast Gear who built, sold to an aggregator, then bought back and relaunched his brand. He recounts how brand channels were shut off after the sale and the fallout on sales. Topics include the earn-out risks of aggregator deals, the hands-on turnaround playbook he used, and his new patent-pending baby carrier for dads.
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Rollups Can Lose Brand Value
- Ben still admires Thrasio's original idea but found their execution broke brand-level value.
- He believes a smaller, category-focused aggregator model can succeed where Thrasio's scale failed.
From Hobby To Exit In Three Years
- Ben founded Beast Gear in 2016, grew it to a multi-channel brand, and sold it to Thrasio in late 2019.
- He exited just before COVID and recalls juggling parenting with building the business.
Earn-Outs Depend On Buyer Commitment
- Earn-outs rely on buyers continuing to invest in the brand and are inherently risky for sellers.
- Ben found himself frustrated trying to support brand managers inside Thrasio's bureaucracy.