Food52 was sold in three pieces through a bankruptcy auction in a Delaware court, according to published reports.
The digital food content and commerce company filed for Chapter 11 bankruptcy last month.
America’s Test Kitchen acquired the Food52 media business for about $10.3 million, according to published reports. Troy-CSL Lighting bought the Schoolhouse home decor brand for about $2.2 million, and Form Portfolios acquired the Dansk tabletop and kitchenware brand for a $250,000, according to reports.
Food52, launched in 2009, was valued at more than $300 million after private equity firm The Chernin Group acquired a majority stake for $83 million in 2019 and raised an additional $80 million in 2021, according to reports. The company used those funds to acquire Schoolhouse and Dansk as part of its expansion from food content into digital commerce.
Food media specialist America’s Test Kitchen, a unit of licensing firm Marquee Brands, is expected to merge the Food52 media business into its content and product review platforms. Static Media was named at the bankruptcy auction as an alternate bidder for Food52 if the approved transaction doesn’t close, according to reports.
