Ottawa’s Instant Brands Inc., maker of the popular Instant Pot, has agreed to a deal that will see it join houseware giant Corelle Brands LLC.
“We are thrilled to partner with a global leader in Corelle Brands as we look to embark on our next chapter of strategic growth and expansion,” said Robert Wang, founder and chief executive at Instant Brands. “This combination will allow us to better service our retail customers to meet their evolving needs and capitalize on exciting new demographic and market opportunities.”
Corelle’s chief executive will become the chief executive of the merged company. Instant Brands founder Wang will become the company’s “chief innovative officer.”Wang and two partners poured more than $300,000 into product development for the device. A majority of the design was done at his Kanata home.
He tested recipes with his family and turned to computer science to come up with a name. After writing a program that matched synonyms for “fast” with synonyms for “cooker,” Wang arrived on Instant Pot. Luckily, the domain name was still available.
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