"The Paula Deen brand is alive and well."
So says Jahm Najafi, head of the Book-of-the-Month Club and Najafi Cos, which just invested between $75 million and $100 million to fund Paula Deen Ventures.
You probably recall Paula's fall from grace less than a year ago for using the "N" word and planning a "plantation-style wedding". While embroiled in a lawsuit with an employee, 67 year old Paula lost her contract with the Food Network and 12 other major accounts including Walgreen's, J. C. Penney, and Smithfield contracts. She gave a teary apology on the "Today Show" and faded into the sunset.
In the past, Paula sold her name, image and expertise and raked in the money. She returns as Paula , the businesswoman, demanding more ownership and control in her deals. Najafi Cos, a private equity firm, will restructure Paula Deen Foods, Restaurants and Media, providing a management firm to build and lead the new organization. New business deals are on the horizon to offer Paula's loyal fan base the experiences and products that they love.
Related post:
Paula Deen and Me: A Love Affair Gone Wrong
Food Network Southern Cooking: Life After Paula Deen
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