Food52's Strategic Shift
The food media publisher Food52 is exploring a sale, according to an internal email viewed by ADWEEK. The memo, sent by chief executive Erika Ayers Badan, marks the clearest sign yet that the food and lifestyle publisher's years-long turnaround effort may give way to new ownership.
Financial Context and Acquisition Details
No sale price has been specified, though Badan wrote in her email that Food52 is in the early stages of exploring a sale and may sell to one or multiple acquirers. The company, which includes the Food52 publisher, the manufacturing firm Schoolhouse, and design brand Dansk, hoped to generate $60 million in revenue this year, although it was unprofitable, according to previous ADWEEK reporting.
This development follows the company cutting 40% of its staff this spring and shifting from seeking new funding to weighing acquisition offers, highlighting ongoing challenges in the media and publishing landscape.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!