Martha Stewart’s home furnishings brand has a new home.
Marquee Brands announced this week that it has purchased the Martha Stewart and Emeril Lagasse brands as part of a $215 million acquisition. The brand was purchased from Sequential, which has been shopping it for several months.
"Martha Stewart is a visionary whose educational mission and innovative approach has inspired millions of people to live more meaningfully. Martha Stewart branded products, known for their high quality, superior function and beautiful design, have enriched homes around the world," Sam Porat, Managing Director of Neuberger Berman, which owns Marquee Brands, stated.
“The Martha Stewart brand is a diversified media and merchandising platform founded by Martha Stewart, an Emmy Award-winning media personality, best-selling author, and revered lifestyle icon,” Marquee stated. "The cherished brand's engaging content and thoughtfully designed products are built around Martha Stewart's lifelong mission to inspire the art of creative living.”
The acquisition, which is expected to close in the second quarter of 2019, is subject to customary closing conditions, Marquee noted.
In a statement, Stewart said, ”I am thrilled to enter into this partnership with Marquee Brands, an organization that shares the entrepreneurial spirit and creativity on which I founded my business. In this ever-evolving retail and media environment, I am confident that Marquee's business values, sophisticated digital expertise and international relationships will drive continued growth and position the Martha Stewart brand well for the future. My team and I look forward to embarking on this next chapter.”
Stewart lives in Northern Westchester the hamlet of Katonah in Bedford after previously residing in Fairfield County in Westport.
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