Cooking.com Finds BuyerThursday, March 14, 2013
Target Corp. announced it had acquired Marina del Rey cooking ecommerce site Cooking.com.
The move was part of a pair of online cooking-related acquisitions for the Minneapolis retailer on Thursday as it sought to build up its presence in the online cooking space. Along with Cooking.com, Target bought Chef’s Catalog, also an e-commerce site.
“We know consumers are increasingly looking online for cooking solutions to make their lives easier,” Casey Carl, president of Target Multichannel, said in a statement. “These strategic transactions provide us a great way to address this growing opportunity and will offer expanded online options for our guests.”
Cooking.com launched in 1998 out of Pasadena tech incubator Idealab as an online store specific to kitchen and cooking items. It has built up a number of high-profile partnerships and has created and maintained e-commerce sites for Food Network, Rachel Ray and Paula Deen.
Business for Cooking.com has slowed in recent years and the company reportedly laid off a significant number of employees in late 2012. Since then it had been actively seeking a buyer. Terms of the deal with Target were not disclosed.