The Celebrity Chef Brand Martha Stewart Bought For $45 Million

Martha Stewart doesn't just know how to build a lifestyle empire — she knows how to help shape an iconic brand and when to buy one. In 2008, she spent $45 million acquiring a celebrity chef brand that was already shouting "Bam!" If you haven't already guessed, Stewart invested in world-renowned American chef, restaurateur, author, and television personality Emeril Lagasse.

The deal totaled $50 million with $5 million paid in stock, and included Lagasse's television programs — "The Essence of Emeril," syndicated episodes of "Emeril Live," and his "Good Morning America" segments — along with his cookbooks, the emerils.com website, and branded cooking and kitchen products. Stewart folded the assets into her media and merchandising company, Martha Stewart Living Omnimedia (MSLO). Lagasse's restaurants and corporate operations were not included in the acquisition. At the time, the total value of Lagasse's acquired brands was estimated to rise up to $70 million if it met performance targets.

The partnership between Stewart and Lagasse was rooted in both business and friendship. In 2007, Lagasse's brands generated $14 million in revenue, and while Lagasse knows a thing or two about restaurants, he was struggling to maintain all three of his New Orleans restaurants after the devastation of Hurricane Katrina, causing at least $1 million in losses. Lagasse's 17-year run on the Food Network had also ended around that time. In a 2010 interview with NBC regarding the acquisition, Lagasse stated, "She showed up at a tough time when I thought the whole ship might be going down [...] Maybe it didn't save me, but it sure gave me some breathing room and got the banks off my back."

Martha Stewart had been a long-time fan of Emeril Lagasse since they first met over two decades before the acquisition, long before he poured everything he had into opening his first restaurant and then becoming a television chef. Stewart told Nation's Restaurant News in 2008, "I have been an admirer ever since." She further acknowledged the influence Lagasse had on food television. The then-president and chief executive of MSLO also told the publication, "Emeril's high-quality food-related content and product lines complement our own and offer multi-platform expansion opportunities."

"I don't have any regrets," Lagasse told NBC. "The experience with Martha Stewart has been delightful. She's a smart lady and a hard worker. My little bit just fits into a corner of her empire, and I'm happy to be there." The acquisition allowed the chef to turn his focus to his restaurants while also expanding the reach of his brands through MSLO's powerful licensing and media infrastructure. In 2019, MSLO and Emeril Lagasse brands were acquired by Marquee Brands, which continues to manage and license them today.

Today, chef Lagasse is still very active. He continues to focus on his eateries, though he recently closed his Florida restaurant, and dedicates time to The Emeril Lagasse Foundation, a nonprofit dedicated to empowering youth through culinary arts, nutrition, and life skills. He hosts two newer TV series, "Emeril Cooks" and "Emeril Tailgates," streaming on The Roku Channel. His branded cooking and kitchen products remain widely available through major retailers and online marketplaces.