The Martha Stewart brand is getting a new home.
Sequential Brands Group, which bought the Martha Stewart brand nearly four years ago for about $353 million, said Tuesday that it is selling it to Marquee Brands for about $175 million. As part of the deal, Marquee will also acquire the brand of TV chef Emeril Lagasse.
Marquee owns several clothing and footwear brands, including Ben Sherman and Body Glove. The company says the acquisition will help it grow into the home and food categories.
Stewart will still oversee the brand, which she founded in the 1990s, and includes magazines, cookware and towels. More recently, the brand struck a deal to make products containing CBD, a compound derived from hemp and marijuana that doesn’t cause a high.
The Associated Press