Celebrity chef Gordon Ramsay, in collaboration with Rupert Murdoch’s Fox Corp, has announced a $100 million investment in HexClad, a leading manufacturer of non-stick cookware. This move marks a significant expansion in their ongoing food-based entertainment partnership.
A Strategic Partnership
The investment, made by Studio Ramsay Global—a joint venture between Fox Corp and Ramsay—includes both cash and media commitments. This partnership, formed three years ago, has been responsible for producing several successful food-oriented TV shows. The recent announcement, made on July 16, highlights their first foray into the consumer products market through this substantial investment in HexClad.
Studio Ramsay Global has been instrumental in launching Bite, a multimedia brand focused on food and entertainment. The collaboration aims to leverage Ramsay’s culinary expertise and Fox Corp’s extensive media reach to promote and grow HexClad’s market presence.
HexClad’s Growth and Market Presence
HexClad, founded in 2016 and based in Los Angeles, has seen remarkable growth, particularly during the Covid-19 pandemic. The company’s innovative marketing strategy, which involved sending cookware to celebrities who then showcased it on social media, significantly boosted its sales. As a result, HexClad’s revenue was projected to reach $350 million in 2023, and the company now holds a valuation exceeding $1 billion.
Ramsay’s personal involvement with HexClad began in 2021 when he acquired a stake in the company and became its brand ambassador. He has prominently featured HexClad cookware on his TV shows and in his restaurants, further cementing the brand’s reputation for quality and performance.
Gordon Ramsay’s Culinary Empire
Gordon Ramsay, a British celebrity chef with a net worth of $220 million, according to Celebrity Net Worth, has built a vast culinary empire. He has opened numerous acclaimed restaurants worldwide, including in Dubai, Tokyo, London, New York, Ireland, and Canada. Ramsay’s US-based TV show “Hell’s Kitchen” and his appearances on the Food Network have made him a household name.
Ramsay’s collaboration with Fox has produced several popular food-based programs, including “Next Level Chef,” “Kitchen Nightmares,” and “Gordon Ramsay’s Food Stars.” These shows have not only showcased Ramsay’s culinary skills but have also contributed to his enduring popularity and influence in the culinary world.
Expanding the Culinary Horizon
In addition to his restaurant and television ventures, Ramsay’s investment in HexClad represents a strategic move to diversify his culinary portfolio. The $100 million investment aims to enhance HexClad’s production capabilities and expand its market reach, leveraging both Ramsay’s culinary brand and Fox’s media resources.
This move follows Ramsay’s sale of a 50 percent stake in his North American restaurant business to private equity firm Lion Capital in 2019. Lion Capital committed to investing $100 million to open 100 new Gordon Ramsay restaurants across the United States within five years. This ambitious expansion plan underscores Ramsay’s vision for broadening his culinary influence and business footprint.
