M&A Deal Summary

Instant Brands Acquires Corelle Brands

On March 4, 2019, Instant Brands acquired consumer products company Corelle Brands from Cornell Capital

Acquisition Highlights
  • This is Instant Brands’ 1st transaction in the Consumer Products sector.
  • This is Instant Brands’ 1st transaction in the United States.
  • This is Instant Brands’ 1st transaction in Illinois.

M&A Deal Summary
Date 2019-03-04
Target Corelle Brands
Sector Consumer Products
Buyer(s) Instant Brands
Sellers(s) Cornell Capital
Deal Type Merger
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)
Davis Polk & Wardwell (Legal)

Target

Corelle Brands

Rosemont, Illinois, United States
Corelle Brands LLC is a manufacturer and marketer of bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products. Corelle Brands LLC and its affiliates manufacture and market products worldwide through a portfolio of well-recognized and respected brands, including under the Pyrex®, Corelle®, Corningware®, Snapware®, Chicago Cutlery®, Revere®, Visions®, Ekco® and Baker's Secret® trademarks. Corelle Brands LLC and its affiliates employ approximately 3,000 people, and have major manufacturing and distribution operations in North America and Asia-Pacific regions. Corelle Brands LLC was incorporated in 1991 and is based in Rosemont, Illinois.

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Buyer(S) 1

Buyer

Instant Brands

Ottawa, Ontario, Canada
Category Company
Founded 2009
Sector Consumer Products
DESCRIPTION

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.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Products) 1 of 1
Type (Merger) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-07 Revere Ware Parts

Canton, Massachusetts, United States

Revere Ware Parts is a cookware brand manufactures iconic copper-clad stainless-steel construction. Revere Ware Parts is based in Canton, Massachusetts.

Sell -

Seller(S) 1

SELLER

Cornell Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cornell Capital is a private investment firm that seeks to partner with strong management teams to build businesses. Cornell Capital does not have any sector preferences and focuses on opportunities across the US. Cornell Capital was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 1 of 2
Sector (Consumer Products) 1 of 1
Type (Merger) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Citizens Rx

Oak Park, Illinois, United States

Citizens Rx is a provider of pharmacy benefit management services, including formulary management, claims processing, and rebate administration. Citizens Rx was founded in 2009 and is based in Oak Park, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-11 Spectrum Automotive Holdings

Fairfield, New Jersey, United States

Spectrum Automotive Holdings is an agent, marketer, and administrator of finance and insurance ("F&I") products for the U.S. automotive market. Spectrum Automotive is providing a full suite of proprietary and third-party extended warranty and ancillary products to more than 1,400 dealer, administrator, and original equipment manufacturer partners. Spectrum Automotive Holdings was founded in 1999 and is based in Fairfield, New Jersey.

Buy -
Mergr

Product

Company

Legal