Corelle Brands and Instant Brands are merging, which will bring together the makers of brands such as Corelle, Pyrex and CorningWare with the company responsible for the popular Instant Pot multi-cooker.
The Wall St. Journal first reported the deal on Sunday.
Financial terms of the deal were not disclosed. The merger brings together a longstanding company in Corelle that owns a number of legacy housewares brands with a newer player in Instant Brands, which over the past two years has seen strong growth driven by its Instant Pot one-pot cooker.
According to the report, Corelle CEO Ken Wilkes will lead the new company. Robert Wang, founder and CEO of Instant Brands, will be the company’s chief innovation officer. In 2018, Wilkes and Wang were among a handful of housewares and retail executives named to the HOMEWORLD BUSINESS® annual “The Players” list of people to watch for the coming year.
In a statement released Monday morning, Wilkes said. “As one of the fastest-growing small kitchen appliance brands in the world, Instant Brands has established itself as a leader in innovation and its high-quality products have become a staple in kitchens in North America, fundamentally changing how consumers think about cooking.”
This story was updated on Monday to add the statement from Wilkes.