Electrolux, the Swedish home appliance maker is acquiring Anova for $250 million. On Monday, Anova has announced that an agreement has been met with Electrolux and the giant appliance maker will be paying the culinary company $115 million instant cash. The remaining $135 million will be paid at a later time and is subject to adjustments and other financial factors.
Anova's Kitchen Product Line
Executive VP for Electrolux Ola Nilsson has said that although from afar, Anova and Electrolux seem very different from each other, the two companies has a lot of things in common, one of which being their passion for great tasting food, reports CNET. Anova is a successful company that is widely known for the Anova Precision Cooker. This product is an immersion circulator that controls the water heat for sous vide cooking. Sous vide, or "under vacuum" in French, is a method of cooking wherein you put a food item (usually meat) into a plastic bag and get rid of as much air as possible from the inside part. Then, the bag is placed in a container of water and the Anova Precision Cooker will heat the water to a controlled temperature as the food cooks.
Anova's Business Growth And Electrolux Tie-up
Anova launched the said product with a successful campaign on Kickstarter, a crowdfunding website. Since the said campaign in 2014, the small appliance has progressed to include more high-tech features such as WiFi and Bluetooth. As per a Digital Trends report, Anova CEO and co-founder Stephen Svajian has said that the company's vision has always been focused on building the Anova kitchen wherein the devices are accessible and connected to help users cook like professionals. The CEO also said that they are excited to join Electrolux and to continue with the mission of building the smart kitchen. Electrolux also assured that Anova's unique culture will still be retained and Anova will still operate under the leadership of Svajian.
