Corelle Brands and Instant Brands announced Monday that the two companies will merge this year. Corelle is the parent company of housewares brands such as Pyrex, SnapWare and CorningWare.
The financial terms of the deal were not disclosed in the companies' joint statement. Instant Brands was formed in 2009 and is based in Ontario, Canada. Corelle CEO Ken Wilkes will become CEO of the combined company and Instant Pot CEO Robert Wang will serve as Chief Innovation Officer.
What does the merger mean for your Instant Pot? So far, it appears business will continue as usual. The Instant Brands headquarters isn't going anywhere and the brand will continue to release small appliances for the kitchen.
Instant Pot expanded its appliance lineup last year with theblender and its latest will soon work with Google Assistant.
The merger is expected to be finalized in the second quarter of 2019.