Instant Pot, Pyrex Assets to Be Sold to Centre Lane Partners

Centre Lane Partners is slated to buy most of the assets of Instant Brands, the maker of the Instant Pot pressure cooker and Pyrex glassware, which filed for bankruptcy earlier this year.

The private equity firm bid about $228 million for Instant Brands’ housewares business and $123 million for its appliances business, according to court papers filed Thursday. Instant Brands held an auction for the units earlier this month and the sale requires court approval. A hearing is scheduled for October 3.

Downers Grove, Illinois-based Instant Brands received a higher offer from American Securities-backed Conair for its appliances business, ...