BENTON HARBOR, Mich.,
May 2, 2017 /PRNewswire/
-- Whirlpool Corporation (NYSE: WHR) has announced that it has
reached an agreement to acquire Yummly, Inc. Yummly, founded in
2009 by David Feller and
Vadim Geshel, is a food-centric
technology company that provides personalized recipes and cooking
resources. Yummly boasts more than 20 million registered users and
is one of the world's largest digital recipe platforms. The
acquisition strengthens Whirlpool's ability to bring purposeful,
consumer-relevant innovations to market in the emerging IoT
space.
"We are committed to introducing new products to market that
remove complexity from the day-to-day lives of consumers.
Increasingly, these products will be defined by both physical and
digital experiences. Yummly brings an outstanding platform on which
to begin building our digital product offering," said Brett Dibkey, vice president, Integrated
Business Units for Whirlpool Corporation. Joe Liotine, president of Whirlpool North
America added, "We look forward to the many possibilities to create
value for our consumers with this acquisition."
With this announcement, Whirlpool Corporation continues to
strengthen its position as a leader in building a seamlessly
integrated connected kitchen. Every day, millions of consumers
around the world use Whirlpool Corporation appliances to prepare
meals for their families. The Yummly acquisition will allow these
consumers to dramatically reduce the stress from meal planning by
helping answer the age-old question, "what's for dinner
tonight?"
As a wholly-owned subsidiary, Yummly will continue to operate
out of its headquarters in Redwood City, California.
"We are extremely excited about the opportunities and
innovations we can create with Whirlpool Corporation," said
Brian Witlin, CEO of Yummly.
"Whirlpool's purposeful and consumer-centric approach to innovation
aligns perfectly with what we do, who we are, and what we seek to
create for consumers as the kitchen becomes ever-more digitally
connected."
The transaction is subject to certain closing conditions and is
expected to be finalized in May 2017.
Terms of the acquisition are confidential and will not have a
material impact on Whirlpool Corporation's 2017 financial
statements.
About Whirlpool Corporation
Whirlpool Corporation (NYSE: WHR) is the number one major
appliance manufacturer in the world, with approximately
$21 billion in annual sales, 93,000
employees and 70 manufacturing and technology research centers in
2016. The company markets Whirlpool, KitchenAid, Maytag, Consul,
Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and other major brand
names in nearly every country throughout the world. Additional
information about the company can be found at WhirlpoolCorp.com, or
find us on Twitter at @WhirlpoolCorp.
About Yummly
Yummly, founded by David Feller
and Vadim Geshel in 2009, is a
leading digital platform (mobile and web) for personalized recipes
and cooking resources. Since Yummly's inception, it has been active
in the digital kitchen and connecting users to the recipes they
love. From recipe recommendations to handy tools and helpful
videos, Yummly has everything needed to improve life in the kitchen
every step of the way. The company, headquartered in the heart of
Silicon Valley, uses patented technology and proprietary data to
understand food and taste, making it the best source for recipes
tailored to specific taste preferences. For more information, visit
www.yummly.com.
Whirlpool Corporation Additional Information
This document contains forward-looking statements regarding
product capabilities, growth opportunities, impact on Whirlpool's
financial statements, post-closing operations for Yummly and
closing timelines. Actual events or results may differ materially
from those statements as a result a many factors, including the
company's ability to complete the acquisition and realize the
benefits from such acquisition. For information about the factors
that could cause such differences, please refer to our Annual
Report on Form 10-K for the year ended December 31, 2016, including the information set
forth under the caption "Risk Factors."
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SOURCE Whirlpool Corporation