Paula Deen is making a comeback. Her new company, “Paula Deen Ventures,” has just received an investment between $75 million and $100 million from Najafi Cos.
Jahm Najafi, the owner of the “Book of the Month Club” and BMG Service, hopes his private equity firm can help Paula gain new deals by retiring her current business model, which will sell her likeness and expertise to others.
Najafi took to the Wall Street Journal and said –
“Our investment allows the Paula Deen brand to expand their relationships and the partnerships that are already in place, and support those partnerships on a go-forward basis,”
Steven Naula, chief executive of “Paula Deen Ventures,” revealed the company is in talks with TV networks, retail chains and other possible partners.
Naula refused to announce the networks the company is talking to but one thing we do know is that The Food Network, which fired Deen in 2013, is not being considered.
Deen, 67, was dropped by many of her sponsors in June 2013 after she admitted to using a racial slur in a videotaped court deposition. Deen apologized for her words and said she did not condone racism.
Since the incident, Deen has been out of the public eye for quite some time now. When asked how she is doing, she told The Wall Street Journal that she draws confidence from the “We Support Paula Deen” Facebook pages.
Najafi is confident that Deen’s comeback will be a mutually profitable endeavor.
“The important thing to remember is that her fan base is rabid. Her Facebook fan base has more than doubled in the past year. The Paula Deen brand is alive and well.”
– Dallas Jordan