Target Stirs In Two Cooking Sites
Target says it is buying Chefs Catalog and Cooking.com, two e-commerce sites specializing in kitchenware, and will combine the two into a new subsidiary. (Each unit will retain its name.) The Minneapolis-based retailer, which did not disclose the price paid for the two companies, says the represents a growth opportunity, but is not likely to impact this year’s results.
“We know consumers are increasingly looking online for cooking solutions to make their lives easier, from utensils and cookware, to recipes,” says Casey Carl, Target’s president of Multichannel, in its release. “These strategic transactions provide us a great way to address this growing opportunity and will offer expanded online options for our guests.”