Martha Stewart Omnimedia Acquired for $350 Million

Business buying is big business.

martha-stewart

As rumored, Martha Stewart Omnimedia has been acquired by Sequential Brands Group. The empire built by Martha Stewart was worth about $350 million.

As part of the deal, Stewart will become a Sequential stockholder and will be nominated to serve on its board of directors.

Sequential’s CEO, Yehuda Shmidman, cited the value of Stewart’s name when he commented on the purchase. “Martha Stewart’s impact around the world is staggering, and the empire she founded is unmatched in its industry. In fact, research shows that the Martha Stewart brand has 96 percent awareness among women in the U.S., and seven out of 10 women say that Martha has and does influence the way they think about, organize and manage their homes.”

No word on where Shmidman got that handy and positive stat, but let’s just go ahead and trust him anyway.