Paula Deen's new company lands USD 100m deal
Paula Deen's new company, Paula Deen Ventures has received an investment between 75 million and 100 million dollars from Najafi Cos.
The Arizona-based private-equity company led by Jahm Najafi hopes to help the 67-year-old Southern chef to establish new deals and break away from her current business model, which is based on licensing her celebrity image to others, People magazine reported.
Steven Nanula, chief executive of Deen Ventures told The Wall Street Journal that the company is in talks with possible partners, including TV networks, but the Food Network is not one of them.
Deen was dropped by the Food Network and many of her sponsors recently after she admitted to using a racial slur.
(Posted on 13-02-2014)