The Wall Street Journal: Kitchenware deal stewing: Owner of Instant Pot to merge with Pyrex maker Corelle

Instant Brands Inc., the maker of the popular Instant Pot, is merging with Corelle Brands LLC, which makes houseware mainstays such as Corelle, Pyrex, CorningWare and SnapWare, in a combination their owners hope will be a recipe for success.

The companies, which plan to announce the deal Monday, aren’t disclosing financial terms. People familiar with the matter said the combined company would have an enterprise value of more than $2 billion.

Instant Pot, an electric cooker that is a pressure cooker, slow cooker and a rice cooker in one, has built a cultlike following over the past few years. Its millions of devotees, who sometimes refer to themselves as “Potheads,” share recipes on social media and have made it one of the top-selling items on Amazon.com Inc.

>>> Original Source <<<