Martha Stewart brands have a new owner

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Sequential brand group (SQBG) sells brands Martha Stewart and Emeril Lagasse to licensing and marketing company Marquee Brands for $ 175 million. The transaction could reach $ 215 million if the brands reach certain targets.

"I am confident that Marquee's commercial values, sophisticated digital expertise and international relationships will lead to continued growth and a good position for the Martha Stewart brand for the future," Stewart said in a statement.

Prior to the sale to Sequential, Stewart's brands existed under the name of Martha Stewart Living Omnimedia, a company she had created after buying the shares of Time Stewart in Martha Stewart Enterprises in 1997.

Stewart stepped down from his position as a leader within the company after being indicted for securities fraud in 2003 and was banned from holding a management position through the SEC until he was dismissed. in 2011.

But she later joined the board of directors and was still involved as an officer, major shareholder and board member when the company was sold to Sequential.

Marquee said Tuesday that Stewart "would join the Marquee Brands team and continue to guide the brand she had founded".

This is not the only company in Stewart. Recently, she joined the Canadian Marijuana Company. Cover growth (GSC) as an advisor to help develop cannabis products for humans and animals.

Jackie Wattles and Paul R. La Monica from CNN Business contributed to this report.

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