Target Buys Online Stores of Food Network and Rachael Ray

Target is buying Chefs Catalog and Cooking.com, which owns and operates online stores for the Food Network, Rachael Ray and Calphalon, for an undisclosed amount. Chefs Catalog, headquartered in Colorado Springs, Colo., is a direct-to-consumer cookware retailer that sells bakeware, cutlery, kitchen tools and cooking utensils. Cooking.com, based in Marina Del Rey, Calif., is an e-commerce company that operates online stores. The two transactions are separate and are both expected to close within 30 days.