Pyrex-owner Corelle cooks up merger with Instant Pot-maker

Instant Pot

Instant Pot

Instant Brands, which makes the popular electric pressure cooker is joining other household names such as Corelle, Pyrex, CorningWare and SnapWare.

Financial terms of the definitive merger agreement were not disclosed. The Wall Street Journal reported earlier that the combined company would have an enterprise value of more than US$2 billion, citing people familiar with the matter.

Financial details were not released, but the two companies said in a joint statement that the deal is expected to close this year.

Maurizio Sarri sends message to Chelsea FC supporters about Jorginho
Kepa made the headlines for all the wrong reasons during the Blues' loss to Manchester City in the Carabao Cup final. At Christmas time they were in second position after City lost to Leicester, Crystal Palace and Chelsea .

Corelle, which is headquartered in Rosemont, Ill., manufactures and markets multiple houseware brands, including Pyrex.

There's no immediate hint as to how this might change the Instant Pot line, but it could easily mean a lot for distribution and exposure - it could be easier to pick up the multi-purpose cooker. Instant Brands will remain in its Ottawa headquarters and Instant Brands' chief Robert Wang will remain in Ontario and serve as the company's chief innovation officer.

Instant Brands, founded in 2009, is known for its Instant Pot device, which accomplishes a number of cooking functions in the same pot. For Instant Brands, CIBC was its financial adviser and Dentons Canada LLP was its legal adviser.

Recommended News

  • Luke Perry Has Been Hospitalized After a Massive Stroke

    Luke Perry Has Been Hospitalized After a Massive Stroke

    LUKE Perry's co-stars have sent their well wishes to the star after he was hospitalised following a stroke. Perry's co-stars expressed their request for prayers on their official Twitter and Instagram accounts.
    Juventus close in on eighth straight Scudetto after win over Napoli

    Juventus close in on eighth straight Scudetto after win over Napoli

    Juve took a giant step towards an eighth successive Scudetto by moving 16 points clear thanks to Sunday's 2-1 win at Napoli . The move proved futile, as Pjanic drove the resultant freekick into the net successfully, giving Juventus the lead.
    Ben Affleck Opens Up About Alcoholism and His Famous Family

    Ben Affleck Opens Up About Alcoholism and His Famous Family

    Though she has yet to publicly confirm her relationship, Garner has been connected to entrepreneur John Miller since a year ago . In October, the "Argo" director completed a 40-day stay at a treatment center for alcohol addiction, his third rehab stint.
  • Lakers, Carmelo Anthony

    Lakers, Carmelo Anthony "Pausing Talks" As LAL Playoff Hopes Diminish

    They are 4 1/2 games behind the No. 8-seeded San Antonio Spurs and have one of the most hard schedules remaining in the West. The Lakers also have considered signing a center to bolster its frontcourt, league sources said.
    Man, daughter arrested in Texas in Baltimore killing

    Man, daughter arrested in Texas in Baltimore killing

    Her husband, who was in the auto , had called to report the attack and rushed Smith to a hospital where she died, police said. Mosby praised the "collaborative efforts" by police and prosecutors who pursued the case to get justice for Jacquelyn Smith .
    Kiwi 'bumbling jihadi' Mark Taylor captured in Syria

    Kiwi 'bumbling jihadi' Mark Taylor captured in Syria

    The Kurdish authorities want New Zealand and Australia to take these people off their hands. He added: "And to buy a decent one, at least (US) $10,000 or $20,000".
  • US deploys THAAD missile defence in Israel for exercise

    US deploys THAAD missile defence in Israel for exercise

    The military stressed THAAD's presence in Israel was strictly defensive and "not related to any specific event". It is the first such exercise in Israel, although the two allies hold regular joint war games.
    Ted Baker founder, CEO Ray Kelvin quits amid 'forced hugging' row

    Ted Baker founder, CEO Ray Kelvin quits amid 'forced hugging' row

    Shares fell four per cent on the news in early morning trading, before they rallied to one per cent above Monday's opening price. Ted Baker's chief executive and founder, Ray Kelvin, has resigned with immediate effect following allegations of harassment.
    Michael Jackson songs dropped from BBC2 Playlist

    Michael Jackson songs dropped from BBC2 Playlist

    One livid fan even suggested the Jackson estate should pursue legal action in the wake of the documentary and its allegations. In the documentary Robson recounted his experience to the camera, saying: "I was seven-years-old".
  • Warriors Considered Favorites To Sign Andrew Bogut

    Warriors Considered Favorites To Sign Andrew Bogut

    Now an unsigned free agent, Bogut took a year to come play for the Sydney Kings in the 2018-19 NBL season. Bogut played the role of an interior intimidator, providing a formidable last line of defense.
    Hall of Famer Ted Lindsay dies at 93

    Hall of Famer Ted Lindsay dies at 93

    Lindsay was Detroit general manager for three years and won the 1977 Executive of the Year award from The Hockey News. He captured the Art Ross Trophy as the league's top point scorer in 1950, posting a career-best 78 points in 69 games.
    More fast food at the White House

    More fast food at the White House

    While they didn't expect there to be any food, Trump made sure the players were treated to some burgers and fries. North Dakota State, the FCS national champion, is in D.C.to celebrate its national championship.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.