Instant Brands, Corelle Brands Merge

Corelle Brands LLC (“Corelle Brands”), a leading manufacturer and marketer of such iconic houseware brands as Corelle®, Pyrex®, SnapWare® and CorningWare®, and Instant Brands, maker of the multicooker the Instant Pot®, have signed a definitive agreement under which Instant Brands and Corelle Brands will merge.

The transaction fast-growing housewares company with a comprehensive suite of products and accessories for all steps of the culinary process, from meal planning with recipes, preparing ingredients and cooking food to serving meals and storing leftovers. Since acquiring Corelle Brands in April 2017, Cornell Capital has worked with the company’s management team to strengthen its leading market position, suite of quality products and world-class marketing, service, distribution, sourcing and order fulfillment capabilities, while bolstering Corelle Brands’ commercial position in Asia.

Founded in 2009 and headquartered in Ottawa, Ontario, Instant Brands specializes in designing and marketing innovative small kitchen appliances for busy home cooks who live a health-conscious and eco-friendly lifestyle. Known for its multi-functional and signature Instant Pot®, which combines up to 10 different appliances into a single product, Instant Brands has experienced tremendous growth and become a leading brand in the small kitchen appliance industry as it expands its customer base and diversifies its lineup of products, including its cooking blender, multicooker, sous vide immersion circulator and related accessories.

Instant Brands will retain its Ottawa headquarters. Ken Wilkes will be Chief Executive Officer of the combined company and Robert Wang will serve as its Chief Innovation Officer.

“As one of the fastest-growing small kitchen appliance brands in the world, Instant Brands has established itself as a leader in innovation and its high-quality products have become a staple in kitchens in North America, fundamentally changing how consumers think about cooking,” said Wilkes, Chief Executive Officer of Corelle Brands. “We are excited to work with Robert and the rest of the talented Instant Brands team in providing operational and marketing support and access to our global sales network to accelerate multi-channel and new product growth as part of the Corelle Brands family.”

“We are thrilled to partner with a global market leader in Corelle Brands as we look to embark on our next chapter of strategic growth and expansion,” said Wang, Founder and Chief Executive Officer of Instant Brands. “With an international footprint, integrated supply chain and unique sourcing, design, R&D and comprehensive marketing capabilities, Corelle Brands and Cornell Capital will be true partners in supporting our innovation and expanding product development pipeline. In addition, this combination will allow us to better serve our retail customers to meet their evolving needs and capitalize on exciting new demographic and market opportunities.”

Financial terms of the transaction were not disclosed. The transaction is expected to be completed during the second quarter of 2019.

Headquartered in Rosemont, Ill., Corelle Brands LLC (the US operating subsidiary of Corelle Brands Holdings Inc.) and its affiliates manufacture and market products worldwide through a portfolio of well-recognized and respected brands, including Pyrex®, Corelle®, CorningWare®, Snapware®, Chicago Cutlery®, and Olfa®. Corelle Brands and its affiliates employ approximately 3,000 people and have major manufacturing and distribution operations in North America and Asia-Pacific regions.

Instant BrandsTM, the makers of the best-selling Instant Pot®, is driven by a commitment to provide cooking solutions that help our generation live a fast-paced, health-oriented and eco-friendly lifestyle.  Product-by-product, Instant Brands is transforming the housewares industry through consumer-driven innovation and comprehensive brand extensions. Instant Brands product line includes the best-selling Instant Pot pressure cookers, Aura multicookers, Ace blender, Accu sous vide, and Wi-Fi enabled cooking products.