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New Deal


Announced

Instant Brands to merge with Cornell Capital's Corelle Brands.

Financials

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Transaction Value-
Consideration Type-
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private Equity

Household Equipment and Products

Private

Merger

multicooker

Pending

Acquisition

Friendly

United States

Single Bidder

Synopsis

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Corelle Brands, a leading manufacturer and marketer of houseware brands, and Instant Brands, maker of the multicooker the Instant Pot, signed a definitive agreement under which Instant Brands and Corelle Brands will merge. Financial terms of the transaction were not disclosed. The transaction creates a world-class, fast-growing housewares company with a comprehensive suite of products and accessories for all steps of the culinary process. Since acquiring Corelle Brands in April 2017, Cornell Capital has worked with the company's management team to strengthen its leading market position, while bolstering Corelle Brands' commercial position in Asia. "This partnership creates a leading housewares company with compelling opportunities for further growth by leveraging Corelle Brands' best-in-class platform and the proven leadership team's decades of experience in building market-leading brands. I look forward to working with Ken, Robert and the rest of Corelle Brands and Instant Brands management to achieve these strategic growth objectives," said Henry Cornell, Founder and Senior Partner of Cornell Capital.

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