Target buys two e-commerce chains to boost culinary business
(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.
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