- Target Corp. announced Thursday its acquisition of kitchen tool and recipe companies Chefs Catalog and Cooking.com.
- After the terms of the acquisitions close within 30 days, Target will combine the two companies into a new subsidiary, though both brands will continue to use their current names.
- Chefs Catalog president and CEO Tim Littleton will serve as president of the new subsidiary, while Cooking.com chief executive and co-founder Tracy Randall will serve as a consultant to Target.
From the article:
... “We are excited to bring Chefs and Cooking.com into the Target family,” said Casey Carl, president of multichannel and senior vice president, enterprise strategy, Target. “We know consumers are increasingly looking online for cooking solutions to make their lives easier — from utensils and cookware, to recipes. These strategic transactions provide us a great way to address this growing opportunity and will offer expanded online options for our guests.” ...