Electrolux Gobbles Up Appliance Maker Anova

Posted: Feb 7 2017, 4:57am CST | by , in News | Latest Business News

 

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Electrolux gobbles up appliance maker Anova

Deal is expected to close in Q1 2017

Electrolux has announced that it is purchasing a small kitchen appliance maker called Anova. Anovis is best known for its Anova Precision cooker, a connected device that is for sous vide cooking giving people restaurant quality cooking in the home. Anova was founded in 2013 and its Precision cooker was rated the best cooking gadget in 2016 by Reviewed.com.

The company had net sales of about $40 million in 206. Electrolux purchased Anova for $115 million. Electrolux could pay up to another $135 million depending on the future financial performance of the company. Anova has 70 employees and contractors globally and is headquartered in San Francisco. The purchase is expected to be final in Q1 2017 and is subject to regulatory approvals.

"Anova’s mission – to make it easy for consumers to cook like a pro – is so similar to our own focus on great tasting food that this was quite obviously a perfect match," said Ola Nilsson, Head of Electrolux business area Home Care and Small Domestic Appliances. "It’s also a great strategic fit in terms of Anova’s approach to online sales and digital marketing, and in how they leverage connectivity in the products. We have a lot to learn from each other, and look forward to helping Anova take the next steps on their global growth journey while maintaining an agile and innovative culture."

Anova Precision cooker connects to the users smartphone and has thousands of recipes to make it easy to cook sous vide. The sous vide cooking technique is used widely at gourmet restaurants and requires that raw food be placed in sealed bag and brought to a precise temperature in a water bath. The cooker is an immersion circulator and heats and maintains the temperature of the water.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
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