Marquee Brands Acquires Majority Stake in America’s Test Kitchen

Marquee Brands, marketer, media company and owner of brands, announced that it is now the majority owner of America’s Test Kitchen, a 30-year-old food and culinary media business, and its related brands. ATK’s diverse portfolio of brands is trusted by millions of home cooks including Cook’s Illustrated, Cook’s Country, Cooking School, and Kids. America’s Test Kitchen is located in Boston’s Seaport District where 60 test cooks, editors and product testers test recipes dozens of times to get them just right. They also test cookware and ingredients. Those who want to try the recipes in best-selling cookbooks or test the tools can go to the ATK Shop online.

According to a February 2, 2023 news release, ATK has:

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• Produced more than 15,000 top class recipes
• Published more than 7,500 product reviews
• Offered subscribers premium content, including more than 800 long-form TV episodes, more than 3,000 short-form videos, over 300 podcast episodes, more than 100 cookbooks, and published more than 275 issues of its flagship magazines

With Marquee Brands’ new role, America’s Test Kitchen is getting a new chief executive officer, Dan Suratt, formerly with Roku and This Old House Ventures.

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“For more than 30 years, America’s Test Kitchen has helped people become better cooks with the most tested and trusted recipes and reviews in the industry. ATK has undergone numerous evolutions, but one thing has always remained consistent: its relentless dedication to providing customers with joyful cooking experiences,” said Suratt. “As a loyal subscriber for many years, I am extremely excited to join the talented ATK team to help grow this storied company. Likewise, it’s a pleasure to become part of the Marquee Brands family and I look forward to continuing to build long-term brand value together.”

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Kent Savagian, head of RBC Capital Markets’ LA-based investment banking firm and lead banker representing ATK shareholders, also commented on the deal.

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“The founding shareholders of ATK are delighted to welcome Marquee Brands to herald a new chapter in the amazing history of America’s Test Kitchen,” said Savagian. “In Marquee Brands, we have found the right partner to carry on ATK’s iconic brand and its production of award-winning content, while bringing resources, capabilities, and an existing portfolio of incredible complementary culinary brands. We could not be more thrilled for what is to come for ATK, as investors and fans of its wonderful TV shows, cookbooks, magazines, podcasts, and recipes and reviews.”

Freemium model

American’s Test Kitchen utilizes a freemium model, offering a lot of content for free. A Standard Membership gives subscribers access to premium content one of ATK’s websites for $39.95 a year. An All-Access Multi-Site Membership is $74.95 per year, and subscribers can access content on America’s Test Kitchen, Cook’s Illustrated and Cook’s Country. Online Cooking School Memberships are also available – $19.95 a month without instructor access or $39.95 a month with instructor access. ATK publishes several magazines which have different subscription pricing.

Insider Take

Why does Marquee Brands have an interest in America’s Test Kitchen? Perhaps to grow their assets and add to kitchen, cooking and lifestyle brands like Emeril Lagasse, Martha Stewart and Sur la Table. What is unclear is how America’s Test Kitchen will change under new leadership. The companies’ joint announcement did not specify any planned changes. Suratt’s only comment was about growth.

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Source: https://gardencourte.com
Categories: Kitchens