Embattled celebrity cook Paula Deen is set to launch a comeback, and she's got a $75 million investment to get her started.
Deen announced this week that she's starting a new company called Paula Deen Ventures to oversee her restaurants, cookbooks and other projects, The Associated Press reports. Phoenix-based private equity firm Najafi Companies is investing at least $75 million in the company. Steven Nanula, who has worked with Deen for two years, will serve as CEO, according to the AP.
A timeline of Paula Deen's downfall
Deen was dropped by the Food Network, Walmart and other companies with whom she had endorsement deals last year, after she came under fire for admitting to having used racial slurs.
Historically, Najafi Companies has invested in businesses including SkyMall and the Phoenix Suns NBA team. "We know that the enterprise will be successful and valuable, as Paula and her team continue to bring quality products and experiences to her loyal fan base," the company said in a statement, according to the AP.
Are you happy to hear Deen is launching a comeback?