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Food52

Acquired

New York, US · Delaware corporation · 4 known investors

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Pär-Jörgen Pärsonunlockedknows Amanda Hesser · together at First Close Partners (overlapped)
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knows the team · via Bentley University

Food52 is a food, home and lifestyle digital media and e-commerce platform sold in a 2026 Chapter 11 auction.

Also known as F52 · Food52 · Food52, Inc.

Founders & leadership

MSMerrill Stubbs
Merrill StubbsCo-founder
AHAmanda Hesser
Amanda HesserinCo-founderAmanda Hesser is founder and executive chair of Food52, a digital media and e-commerce platform for food, home, and lifestyle content. Previously, she worked as a reporter, feature writer, and food editor at The New York Times from 1997 to 2008, and is the author of several published cookbooks including The Essential New York Times Cookbook.
AZ
Alex ZubillagaNamed on SEC filing

Board

SBSim Blaustein
Sim Blausteinin𝕏Board directorPartner at BDMI
AB
Art BerlinerBoard director

Investors · 4

Reported raises · per SEC filings

Form D private placements

$35.6M disclosed across 4 of 6 rounds · 2014–2023

$20MraisedDec 2023 · 1 investors · Retailing
Rule 506(b)
Officers, directors & promoters on the filing
  • Mike KernsDirector
  • Jason ChatterjeeExecutive Officer
  • Erika AyersDirector
  • Merrill StubbsDirector
  • Alex BellosExecutive Officer, Director
  • Maureen SullivanDirector
  • Amanda HesserExecutive Officer, Director
Amount sold
$20M
First sale
Nov 2023
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$5.4MraisedDec 2023 · 5 investors · Retailing
Rule 506(b)
Officers, directors & promoters on the filing
  • Amanda HesserExecutive Officer, Director
  • Mike KernsDirector
  • Erika AyersDirector
  • Maureen SullivanDirector
  • Jason ChatterjeeExecutive Officer
  • Alex BellosExecutive Officer, Director
  • Merrill StubbsDirector
Amount sold
$5.4M
First sale
Nov 2023
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$4.3MraisedJul 2017 · 6 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Sim BlausteinDirector
  • Alex ZubillagaDirector
  • Merrill StubbsExecutive Officer, Director
  • Amanda HesserExecutive Officer, Director
  • Art BerlinerDirector
Offering amount
$4.3M
Amount sold
$4.3M
First sale
Jul 2017
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
$6MraisedOct 2014 · 15 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Merrill StubbsExecutive Officer, Director
  • Alex ZubillagaDirector
  • Sim BlausteinDirector
  • Amanda HesserExecutive Officer, Director
Offering amount
$6M
Amount sold
$6M
First sale
Sep 2014
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

Food52 is a diversified digital media and e-commerce business operating at the intersection of food, home and lifestyle. It began as a community-centric recipe website and built a "content-to-commerce" model that combined editorial content, user-submitted recipes and curated product sales in a single experience. Its digital hub reached roughly 37 million consumers monthly across web and social channels, and the company produced over 2,500 minutes of original video in 2025.

By 2025 the business spanned three brand verticals: the core Food52 platform (marketplace and an in-house creative studio selling sponsored content and marketing campaigns to brand partners), Schoolhouse, a vertically integrated manufacturer and retailer of premium home furnishings and lighting based in Portland, Oregon, and Dansk Designs, a heritage tabletop and cookware brand established in 1954 and held largely as an intellectual property asset. Corporate headquarters and production were centered on a 41,000 sq. ft. studio at Dock 72 in the Brooklyn Navy Yard, leased in 2021, containing test kitchens, photo and video studios and event space; Schoolhouse operated from a 125,000 sq. ft. Portland factory with a unionized workforce (IBEW Local 48).

Food52, Inc. filed for Chapter 11 protection on December 29, 2025 in the U.S. Bankruptcy Court for the District of Delaware, reporting $1 million to $10 million in assets and $10 million to $50 million in liabilities. A court-supervised auction in early 2026 broke the company into three pieces sold to separate buyers.

Founding story

Food52 was founded in 2009 by Amanda Hesser, a former New York Times food editor, and Merrill Stubbs, a food writer, as a community recipe website.

Business model

Food52 combined advertising and branded-content revenue with direct e-commerce. The marketplace relied predominantly on an asset-light dropshipping model with more than 100 artisanal makers and brands to limit inventory risk, supplemented by higher-margin private-label products sold under the "Five Two" label, with community input used for crowdsourced product development. The Schoolhouse vertical operated an asset-heavy, manufacturing-centric model, creating a bifurcated logistics network alongside the dropship business.

Three revenue streams in 2024: the Food52 marketplace (~$21.5 million), the in-house creative studio producing sponsored content and marketing campaigns for brand partners (~$5.1 million), Schoolhouse product sales (~$44.7 million) and Dansk (~$3.4 million), totaling approximately $74.7 million in 2024, down from about $160 million in 2021.

Traction

Approximately 37 million monthly consumers across web and social channels; over 2,500 minutes of original video produced in 2025; partnerships with more than 100 artisanal makers and brands; approximately $74.7 million of revenue in 2024 versus about $160 million in 2021.

Latest developments

A Delaware bankruptcy auction concluded in February 2026, splitting the company: the core Food52 media business went to F52 LLC, an acquisition vehicle for America's Test Kitchen, for roughly $10.3 million (about $9.9 million after transaction fees), including cancellation of $3.42 million of debtor-in-possession financing and leaving an estimated $6.5-7 million in cash to the seller; Schoolhouse was sold to Troy-CSL Lighting, a division of Hudson Valley Lighting Group, for $2.2 million; and Dansk was sold to Form Portfolios for $250,000. Static Media was named backup bidder for Food52. America's Test Kitchen, owned by brand licensing firm Marquee Brands, is expected to fold Food52 into its content, publishing and product review portfolio.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

An early exponent of the vertically integrated content-to-commerce media model, valued at more than $300 million in 2021 after private equity investment. Following a decline in revenue and a distressed sale, the three constituent businesses were valued at roughly $12.75 million in total, about 4% of peak valuation.

Integration of a large owned editorial and video operation with a curated marketplace and private-label products, plus owned heritage and manufacturing brands (Dansk, Schoolhouse) that extended the addressable market beyond the kitchen.

Technology

A digital publishing and e-commerce platform integrating editorial content, community-submitted recipes and shoppable commerce; the debtor's operations were described as constrained by outdated systems and high fixed costs.

Go-to-market

Content-led acquisition: editorial and video content plus a community recipe platform funnels readers to shoppable links within content, described by the company as a funnel from inspiration to action. Roughly 70% of the product assortment was sourced from small or underrepresented brands, positioning the shop around product discovery.

Consumers interested in cooking, tabletop, home furnishings and lifestyle products, reached through the site and social channels; on the advertising side, blue-chip brand partners buying sponsored content and marketing campaigns.

Geography

Headquarters and production studio in Brooklyn, New York (Dock 72, Brooklyn Navy Yard); Schoolhouse manufacturing plant, offices and showroom in Portland, Oregon.

History

After launching in 2009, Food52 opened its e-commerce shop in 2013 and raised seed and venture funding through the 2010s to build its content studio and operations. In September 2019 The Chernin Group acquired a majority stake for $83 million; TCG affiliates held about 73% of equity on a fully diluted basis as of the petition date, with roughly 78 other stockholders holding the remainder. In 2021 the company acquired Dansk Designs from Lenox Corporation (May) and Schoolhouse Electric Co. for $48 million in cash and stock (December), funded by an incremental $80 million investment from TCG. Leadership changed repeatedly: co-founder Amanda Hesser left the CEO role in 2023, Alex Bellos (appointed CEO in late 2022) departed in late 2023, and Erika Ayers Badan was appointed CEO in April 2024; Hesser stepped away from operations by mid-2025 apart from a board role. The company filed for Chapter 11 in December 2025 and its assets were auctioned in early 2026.

Risks & controversies

The company burned cash amid high fixed costs and operational complexity created by combining an asset-light digital platform with asset-heavy manufacturing. Revenue fell from roughly $160 million in 2021 to about $74.7 million in 2024 amid rising costs, a slowdown in pandemic-era home spending, repeated layoffs and executive turnover. By late 2025 Food52 carried more than $25 million in debt; in December 2025 a lender swept the company's accounts to satisfy obligations, forcing mass layoffs and triggering the Chapter 11 filing, with the majority of the workforce terminated by the petition date. The Portland Schoolhouse building was listed for sale or lease in May 2025 after an 18-month notice to vacate. The Chernin Group invested more than $160 million into Food52 and its acquisitions; the final sale valued the combined businesses at roughly 4% of peak valuation.

Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Advertising/creative studio revenueJan 2024$5.1M
Company valuationJan 2021$300M
Dansk revenueJan 2024$3.4M
Debt outstandingJan 2025$25M
Food52 marketplace revenueJan 2024$21.5M
Monthly audience across web and socialJan 202537,000,000 consumers
Original video producedJan 20252,500 minutes
Product mix sourced from small or underrepresented brandsJan 202570%
Schoolhouse revenueJan 2024$44.7M
TCG ownership of equity (fully diluted)Dec 202573%
Total revenueJan 2024$74.7M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 2

by search overlap

Companies competing with Food52 for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 12

launches, deals, and filings
Feb 2026
Core Food52 media business acquired by America's Test Kitchen for ~$10.3 million

A Delaware bankruptcy auction awarded the core Food52 media business to F52 LLC, an acquisition vehicle for America's Test Kitchen, for roughly $10.3 million (about $9.9 million after fees), including cancellation of $3.42 million in DIP financing. Static Media was named backup bidder.

$10.3M source ↗

Feb 2026
Dansk sold to Form Portfolios for $250,000

Form Portfolios purchased the Dansk brand, acquiring rights to its intellectual property and related assets, with inventory transfers optional.

$250K source ↗

Feb 2026
Schoolhouse sold to Troy-CSL Lighting for $2.2 million

The Portland-based lighting and home goods brand Schoolhouse was sold to Troy-CSL Lighting, a division of Hudson Valley Lighting Group, in the bankruptcy auction.

$2.2M source ↗

Jan 2026
$3.4 million debtor-in-possession financing from America's Test Kitchen

America's Test Kitchen provided debtor-in-possession financing to keep Food52 operating during a 35-day court-supervised sale process, giving it stalking horse bidder status alongside a $6.5 million stalking horse bid.

$3.4M source ↗

Dec 2025
Food52 files for Chapter 11 bankruptcy

Food52, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware, reporting $1-10 million in assets and $10-50 million in liabilities, after a lender swept its accounts and forced mass layoffs.

source ↗

Apr 2024
Erika Ayers Badan appointed CEO

Former Barstool Sports CEO Erika Ayers Badan was appointed chief executive of Food52.

source ↗

Jan 2023
CEO Alex Bellos departs

Alex Bellos, appointed CEO in late 2022 to professionalize retail operations, departed in late 2023.

source ↗

Jan 2023
Co-founder Amanda Hesser transitions out of CEO role

Hesser stepped out of the CEO role in 2023 and formally stepped away from the company outside of a board role by mid-2025.

source ↗

Dec 2021
Acquisition of Schoolhouse Electric Co. for $48 million

Food52 acquired Schoolhouse for approximately $48 million in cash and stock, funded by an incremental $80 million investment from The Chernin Group.

$48M source ↗

May 2021
Acquisition of Dansk Designs from Lenox Corporation

Food52 acquired heritage tabletop and cookware brand Dansk Designs, established in 1954, from Lenox Corporation.

source ↗

Sep 2019
The Chernin Group acquires majority stake for $83 million

Los Angeles-based private equity firm The Chernin Group acquired a majority stake in Food52 for $83 million.

$83M source ↗

Jan 2013
Launch of the Food52 Shop e-commerce marketplace

Food52 launched its shop, featuring shoppable links within editorial content and shifting the company's revenue profile toward commerce.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
Food52 ExitedDelaware

In the news

Research sources · 3

primary sources listed

3 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Food52 do?
Food52 is a food, home and lifestyle digital media and e-commerce platform sold in a 2026 Chapter 11 auction.
Who founded Food52?
Food52 was founded by Merrill Stubbs, Amanda Hesser.
Who are Food52's investors?
Food52's investors include The Chernin Group (TCG Crypto), 14W, BDMI, Walden Venture Capital.
How much funding has Food52 raised?
Food52 has disclosed $35.6M raised across 4 of its 6 known rounds.
Where is Food52 headquartered?
Food52 is headquartered in New York, US.