Announced
Financials
Tags
Private Equity
Household Equipment and Products
Private
Merger
multicooker
Pending
Acquisition
Friendly
United States
Single Bidder
Synopsis
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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