News

Jenn-Air and Nest strike a deal

BY HBSDealer Staff

Jenn-Air and Nest have an integration up their sleeves, which means Jenn-Air's connected wall oven will soon be compatible with the Nest interface.

"Like the Jenn-Air brand, Nest is known for products that combine intuitive, user-friendly technology with sleek, beautiful design," said Brian Maynard, director of marketing for Jenn-Air. "By linking our appliances with Nest, we deliver immediate benefits and pave the way for future enhancements that will appeal to the luxury consumer."

The integration is due for this summer, with more details about functionality to be announced around that time.

According to Maynard, the integration will come as an update in the Jenn-Air Wi-Fi app.

The app currently features the Jenn-Air Culinary Center, an interactive system that uses a series of precise algorithms and chef-tested cooking programs for more than 30 food options.

Color images illustrating doneness levels are combined with visuals showing how and where to insert the temperature probe for a variety of dishes.

The app also allows users to combine up to three cooking modes and save the settings for favorite recipes.

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Newell Rubbermaid sells its window coverings business

BY HBSDealer Staff

Newell Rubbermaid is selling its Levolor and Kirsch window coverings brands to Hunter Douglas for $270 million.

The gross proceeds include the retention of accounts receivable, but the purchase price is subject to customary adjustments. The proceeds will be used to pay down debt for Newell Rubbermaid.

"The announced sale of our Décor business further strengthens our portfolio as we focus our investment behind our highest-potential global growth opportunities," said Michael Polk, Newell Rubbermaid president and CEO. “We believe the Décor business will benefit from being part of Hunter Douglas, an owner more strategically committed to building and investing in the window coverings market."

The transaction is expected to close in 2016, subject to certain customary conditions, including regulatory approvals. 

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HBSDealer Stock Watch: Good tidings

BY HBSDEALER Staff

A bullish swell lifted most HBSDealer stocks, but STCK didn't fare quite as well.

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