Major retailer Target Corp. has acquired Marina Del Rey-based Cooking.com, the company announced today. Terms of the deal were not revealed, but Target expects the acquisition to close within 30 days.
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According to a press release, Target acquired the e-commerce company in a play to expand its cooking and kitchenware offerings. Once folded into Target Corp., Cooking.com will retain its name.
Fifteen-year-old Cooking.com creates online shopping experiences for brands including the Food Network Store, Rachael Ray, the Calphalon Store and more.
“We know consumers are increasingly looking online for cooking solutions to make their lives easier – from utensils and cookware, to recipes,” said Casey Carl, president of Multichannel and senior vice president, Enterprise Strategy, Target, according to a press release. “These strategic transactions provide us a great way to address this growing opportunity and will offer expanded online options for our guests.”
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