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Is there room in the well-appointed house of Martha for another larger-than-life name brand?

Martha Stewart and her new partner, the television chef Emeril Lagasse, are betting that there is. Several pieces of Mr. Lagasse’s culinary franchise were sold to Martha Stewart Living Omnimedia on Tuesday for $45 million in cash and $5 million in stock, the first major acquisition by Ms. Stewart’s media and merchandising company.

Industry analysts said the deal would enable Mr. Lagasse to “kick it up a notch” by benefiting from Martha Stewart Living’s brand expertise.

In the transaction, Martha Stewart Living will acquire the rights to Mr. Lagasse’s television shows, cookbooks, Web site and licensed products. His 11 restaurants will remain privately owned. In an interview, Ms. Stewart said the two brands would be compatible.

“His tastes are very different from mine, as is his food, and I think that’s good,” she said. “Being complementary and different is better than being competitive.”

Ms. Stewart is thought unlikely to develop an electric grill anytime soon, but it would be a natural brand extension for Mr. Lagasse. In addition, the chef’s brand stands to gain from Martha Stewart Living’s experience developing product lines for Kmart, Macy’s and Costco.

Susan Lyne, the company’s chief executive, said Mr. Lagasse had a profitable business model that would immediately contribute to Martha Stewart Living.David Bank, an analyst with RBC Capital Markets, called the acquisition of Mr. Lagasse’s brand a home run.

“It’s a great brand extension and it diversifies the risk away from pure reliance on the Martha Stewart brand,” Mr. Bank said. “It allows them to exploit another valuable brand in a related space.”

http://biz.yahoo.com/nytimes/080220/1194748928333.html?.v=12