Target buys two e-commerce chains to boost culinary business

Thu Mar 14, 2013 12:44pm EDT

A man pushes a shopping cart at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn

A man pushes a shopping cart at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012.

Credit: Reuters/Jonathan Alcorn

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(Reuters) - Discount chain Target Corp has agreed to buy Chefs Catalog and Cooking.com to boost its ability to sell cooking products and kitchenware online.

The company did not disclose the financial terms of the two separate deals, which are expected to close within 30 days.

Target does not expect the deals to affect its results this year in any meaningful way.

Chefs Catalog, backed by San Francisco-based private equity firm JH Partners, sells everything from utensils to kitchen tools directly to customers. The Colorado Springs-based company runs the www.chefscatalog.com website.

Cooking.com sells more than 30,000 kitchen products as well as recipes, cookbooks and member-submitted cooking content. The e-commerce company is based in Marina del Rey, California.

(Reporting By Dhanya Skariachan; Editing by Tim Dobbyn)

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Comments (1)
Dad23_818 wrote:
Sorry Target, you can’t compete with Amazon. You will never be able to compete withh Amazon.

I walk into your stores & can’t find anything in the right place. Your stores are starting to look as bad as any Walmart I’ve even seen. And your employees sound desperate when they beg customers to sign up for your credit or debit cards.

I’ll go to Target when I need a few grocery items only if they are not on sale at one of my local supermarkets. Even though I can save some money on a couple of items at Target, I can always get much better deals in my supermarkets overall & the total bill will be much lower than Target’s. And Target cannot compete with supermarkets when it comes to selection of items.

Sorry Target, I’ll stick to Amazon when I want to buy something online. And I’ll stick to real supermarkets for the majority of my grocery shopping.

Mar 15, 2013 7:38am EDT  --  Report as abuse
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