Instant Brands Provides Update on Sale Process for its Appliance Business
DOWNERS GROVE, Ill., Nov. 8, 2023 /PRNewswire/ -- Instant Brands (the "Company"), maker of consumer favorites like Instant Pot®, Corelle®, Pyrex®, Snapware®, CorningWare®, Visions® and Chicago Cutlery®, today announced that it has completed the previously announced sale of its appliance business to an affiliate of Centre Lane Partners ("Centre Lane").
- "We are pleased to complete the sale of our appliance business to Centre Lane, who we believe is a great home for our appliance business as well as the employees that support it," said Ben Gadbois, President and CEO of Instant Brands.
- "We strongly believe that with an adequate capital structure, Instant Brands will be in a much stronger position to support its products and continue to launch new innovative products globally.
- Finally, we want to thank all of our retail partners and suppliers that have continued to support us during this process."
- Additional information regarding the Company's court-supervised process is available at Instant Brands' restructuring website, InstantBrandsRestructuring.com.