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Target gobbles up 2 online cookware retailers

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Target Corp. has reached two separate deals to buy Colorado-based Chefs Catalog and California-based Cooking.com to boost its culinary business, Reuters reports.

“We are excited to bring CHEFS and Cooking.com into the Target family,” Casey Carl, Target’s president of multichannel and senior vice president of enterprise strategy, said in a news release. “We know consumers are increasingly looking online for cooking solutions to make their lives easier ��� from utensils and cookware, to recipes. These strategic transactions provide us a great way to address this growing opportunity and will offer expanded online options for our guests.”

The Minnesota-based retail giant didn't reveal terms of the two acquisitions. Both brands will continue to operate under their current names, but combined into a new cooking and kitchenware wholly owned subsidiary.

Chefs CEO Tim Littleton will be president of the subsidiary, the Associated Press reports. Tracy Randall, CEO and co-founder of Cooking.com, will become a consultant to Target.

Last month, Target reported its fourth-quarter earnings dipped 2 percent.

Target also plans to open more than a dozen in-store health care clinics over the next few months across the country, the Chicago Tribune reports.

Click here, to follow Target's stock performance.

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