“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.
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