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Friday, April 25, 2014
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Published: Wednesday, 2/12/2014

Paula Deen cooks up $75M comeback deal

Celebrity cook creates Paula Deen Ventures

ASSOCIATED PRESS

SAVANNAH, Ga. — Paula Deen has found a key ingredient to bringing some sizzle back to her career — a cash infusion worth at least $75 million from a private investment firm.

The Savannah-based celebrity cook, whose fortunes took a dive last year because of comments she made in a lawsuit, announced today she’s formed a new umbrella company for her restaurants, cookbooks, product endorsements and other media deals. The new company, Paula Deen Ventures, said private-equity firm Najafi Companies is investing $75 million to $100 million in Deen’s comeback effort.

Jahm Najafi, CEO of the Phoenix-based investment company, says he’s confident Deen’s new venture will succeed in part thanks to her “loyal fan base.”

In a statement, Deen also thanked fans “whose love and support have built my brands.”



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