Martha Stewart buys Emeril.

Martha Stewart Living Omnimedia Inc. "kicked it up a notch" in late February when it bought the Emeril Lagasse franchise. The acquisition, which cost the home-making mavens company $45 million in cash and $5 million in stock, included the rights to Emeril-brand cookbooks, television shows and kitchen products. Not included in the deal were Lagasse's 11 restaurants and corporate office.

Lagassse's cooking show, The Essence of Emeril, was launched in 1993 on the Food Network. Since its debut, he has hosted over 1,600 shows and currently reaches more than 85 million homes daily. The franchise, which brought in $14 million in revenue in 2007, is expected to add an additional $8 million per year to Martha Stewart Living's earnings. The deal will be closed in the second quarter of 2008.