Gordon Ramsay to invest £77m in cookware brand with Rupert Murdoch’s Fox Corp
Celebrity chef Gordon Ramsay has teamed up with Rupert Murdoch’s Fox Corp to invest $100m (£77m) in HexClad, a maker of nonstick cookware.
The deal will see Studio Ramsay Global, a joint venture between broadcaster Fox and Ramsay that produces food-oriented TV shows, take a minority stake in the business.
Studio Ramsay is behind the likes of Gordon Ramsay’s Food Stars and Kitchen Nightmares as well as Gordon Ramsay’s Future Food Stars, Gino’s Italian Family Adventure and The F Word.
Michelin-starre Ramsay personally acquired a stake in US-based HexClad in 2021.
HexClad, which is headquartered in Los Angeles, was set up in 2016 and is expected to report a revenue of $350m (£270m) for 2023.
The news comes after the success of hit TV shows featuring Gordon Ramsay helped his boost his production company’s coffers during its latest financial period.
Studio Ramsay posted a turnover of £43.1m for the period from January 1, 2022, to June 30, 2023, newly filed accounts with Companies House have confirmed.
The business also posted a pre-tax profit of £5.6m for the period.
In the prior period, the 12 months to the end of 2021, Studio Ramsay posted a turnover of £7m and a pre-tax profit of £226,459.
In May, City PM reported that Gordon Ramsay is set to open new restaurants at the top of Canada’s tallest building.
The celebrity chef‘s empire, which already includes more than 50 sites, has leased around 30,000 sq ft across four floors in the top levels of 22 Bishopsgate.
The group will open Lucky Cat by Gordon Ramsay, Restaurant Gordon Ramsay High, Great Street Kitchen and Bar and Lucy Cat Terrace over levels 58 and 61.
Those restaurants will join Sushi Samba and Duck and Waffle on the list of the City’s highest eateries, with the Ramsay spots also. looking down on Jason Atherton’s City Social, halfway up Tower 42.
It will also open The Gordon Ramsay Academy which will run a short range of courses in a kitchen overlooking central London.
Documents filed with Companies House in May also revealed that Ramsay’s restaurant empire made a turnover of £95.6m for the year to August 27, 2023, up from £78.9m.
The group’s pre-tax losses also widened from £1m to £3.4m over the same period.
The group has an interest in 56 restaurants – 34 in the UK as well as 22 licensed locations in Europe, the Middle East and Asia.
They include Gordon Ramsay’s flagship restaurant, the three Michelin-starred flagship site in Royal Hospital Road, London, as well as the one-starred Petrus.
The group also counts three restaurants at the Savoy Hotel, which includes the one-starred 1890 by Gordon Ramsay, and two Lucky Cat by Gordon Ramsay restaurants in Mayfair and Manchester.