Press Release

Precision Cooker Startup Anova to Sell to Electrolux

February 13, 2017

San Francisco ­­– February 13, 2017 – On February 5, Cooley client Anova Applied Electronics and Electrolux signed a definitive agreement for Electrolux’s purchase of Anova for aggregate deal consideration of up to $250 million. Cooley is representing Anova in the transaction, which is expected to close following antitrust review and the satisfaction of applicable closing conditions. The Anova brand and leadership will remain intact under the deal.

Anova was founded in 2013 and launched a Kickstarter campaign the following year that raised $1.8 million. The company is well known for its precision cooker – a device that lets users cook sous-vide, the method by which food is enclosed in a vacuum-sealed pouch and placed in a water bath. Electrolux is one of the world’s largest appliance manufacturers.

“With Electrolux, we’ll have the resources and reach to continue to change the way people cook,” said Anova co-founder and CEO Stephan Svajian in a TechCrunch article. “Electrolux is committed to helping Anova continue its mission of building the Anova kitchen – a kitchen where devices are precise, dead-simple to use, affordable and connected in a meaningful way to help people cook like pros every day.”

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