Swedish appliance maker Electrolux, which has its North American headquarters in Charlotte, announced that it will acquire a smart kitchen appliance company called Anova for about $250 million.
Electrolux said in a statement that it will pay $115 million up front, with an additional payment of up to $135 million, depending on the company’s financial performance. The transaction is subject to regulatory approvals and is expected to close during the first quarter of 2017.
San Francisco-based Anova is known for its precision cooker, which connects to a user’s smartphone to offer thousands of recipes. The smart appliance cooks food in a sealed bag submerged in water, and uses a control called an immersion circulator to heat and maintain the water’s temperature.
Anova has about 70 employees and contractors globally. It sells directly to consumers online, as well as to major retailers.
“This acquisition offers a valuable stepping stone in our journey to deliver best in class consumer experiences through smart, connected appliances,” said Jonas Samuelson, president and CEO of Electrolux.
Electrolux employs about 850 people in the University City area.
Katherine Peralta: 704-358-5079, @katieperalta
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