Electrolux has announced the acquisition of Anova, a rapidly growing company based on the reputation and success of the innovative Anova Precision Cooker, in what promises to be a hugely beneficial move for both companies. This is an emerging product category, so there is plenty of potential profit to be made from the acquisition of Anova and the use of this innovation, which was rated as the best cooking gadget of 2016 on reviewed.com.
The Anova Precision Cooker provides thousands of recipes that involve cooking sous vide, which is a cooking technique popularised within gourmet restaurants and consumers, through using a connection with userâs smartphones. Net sales for the product amounted to USD 40 million last year, and depending on its future financial performance the cash involved in this particular transaction could rise up to USD 135 million.
Ola Nilsson, the Head of Electrolux Home Care and Small Domestic Appliances, has commented, Anovaâs mission â to make it easy for consumers to cook like a pro â is so similar to our own focus on great tasting food that this was quite obviously a perfect match. Itâs also a strategic fit in terms of Anovaâs 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.
The acquisition of Anova is set to be complimented further by the Electrolux Home Care business opening a new office in San Francisco, which will be solely focused upon being an innovative hub aiming to improve consumer experiences in the smart home arena. These recent developments will only boost Electroluxâs profile even further, so keep a look for any future innovations coming from the company in the near future!