The Breville Group says it has acquired US food and tech startup ChefSteps.
ChefSteps, which grew out of a website set up in 2012 and started selling app-connected cooking hardware in 2015, will be integrated into the Australian kitchen appliance maker’s business.
Breville CEO Jim Clayton said consumers and retailers would benefit from the deal with ChefSteps, adding that his company was “excited at the scale we can achieve by combining their content and intellectual property with our current and future consumer products”.
“We also look forward to engaging with, and serving, the very active and enthusiastic community ChefSteps has built around its product and content,” Mr Clayton said.
The ASX-listed Breville said the acquisition was “not expected to have a material impact” on the group’s business and ChefSteps would continue to operate out of its office in Seattle.
“Becoming part of Breville Group marks an incredibly exciting new chapter, opening up significant opportunities to help ChefSteps realise its full potential on a global stage,” ChefSteps CEO Chris Young said.
Breville shares were worth $18.17 before the start of trading on Wednesday.