Target's new kitchenware division

Target forming new kitchenware division with purchase of Chefs Catalog, Cooking.com

Target said Thursday it is forming a new cooking and kitchenware subsidiary after agreeing to buy Chefs Catalog and Cooking.com.

The two brands will continue to operate under their current names but will be combined into a new division of Minneapolis-based Target (NYSE: TGT), the company said in a news release.

Cooking.com was founded in 1998 and is based in Marina Del Rey, Calif. It offers more than 30,000 products for the kitchen as well as recipes and cookbooks. It also operates the Food Network Store, Calphalon Store, and Rachael Ray Store.

Colorado Springs, Colo.-based Chefs Catalog, which was founded in 1979, is a speciality retailer of kitchen products. Brands it sells include All-Clad, Cuisinart, KitchenAid, Le Creuset, Scanpan and Wusthof.

Both deals are expected to close within 30 days. The company did not disclose terms of the agreements.
Comment: Making a good brand - Target - even better.

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