Lagasse back for another course of his cooking career

Nearly 20 years after Emeril Lagasse begged, borrowed and scrounged every penny he could to open his own restaurant, the celebrity chef worried it was all slipping away.

Lagasse's 17-year run on the Food Network was over. Hurricane Katrina had caused at least a $1 million loss to his three New Orleans-based restaurants and cut his profits by a third.

But just when things were looking bleakest - Bam! - Martha Stewart kicked it up a notch and the 50-year-old Lagasse is back.

"She showed up at a tough time when I thought the whole ship might be going down," Lagasse said during a recent interview. "Basically, what I have now is a business partner."

He also has a string of successful restaurants, a new television program, regular appearances in Stewart's magazines and a 10-cookbook publishing deal.

Martha Stewart Living Omnimedia in 2008 bought the rights to Lagasse's franchise of cookbooks, television shows and kitchen products from him for $45 million in cash and $5 million in stock. The final price could rise to up to $70 million.

Stewart said she has admired Lagasse since before he opened his first restaurant, and credits him with helping take food television mainstream.

"His remarkable talents in the kitchen and his high-energy exuberance delight and inform," she said.

Despite his astounding success, Lagasse, who celebrated the 20th anniversary of opening his first restaurant this month, said the restaurant business is fraught with peril.

"It takes a lot more than good cooking to make a restaurant a success," said Eric Linquest, president of Emeril's corporation. "You have to watch thefts, food that's not used, all kinds of expenses. Part of his success is that Emeril has built a core group of people who are very loyal to him and put them in his restaurants."

There was no problem giving up the rights to the 15 cookbooks he has written, Lagasse said. Or products like his sauces, rubs, cookware and cutlery.

"I don't have any regrets," he said. "The experience with Martha Stewart has been delightful."

Lagasse's troubles started when Hurricane Katrina hit New Orleans in 2005, flooding 80 percent of the city and forcing a complete evacuation of residents. The storm damaged his restaurants - Emeril's, NOLA and Delmonico's - and destroyed Lagasse's Mississippi home.

"What a tough time," said Linquest. "We spent easily a million dollars getting the restaurants back in shape. And overnight a third of the revenue of the company disappeared."

There were also uninsured losses like $650,000 in wine at Delmonico's and $550,000 in wine at NOLA. And even though Emeril's was reopened in early December 2005, and NOLA a few weeks later, Delmonico's was closed for over a year.

In the deal with Stewart, Lagasse retained his 13 restaurants that dot the landscape from Las Vegas to Pennsylvania. He's not sure if he wants more, however.

"I'm finally off the roller coaster ride I've been on for 35 years," said Lagasse, who has two grown daughters, a 7-year-old-son and 5-year-old daughter.

"If you're not careful, you can put yourself in a situation where you have no time for your family," he said.

Not that Lagasse's schedule will be light. He visits each of his restaurants regularly, and when he's in one, he's in the kitchen cooking.

Lagasse's new Sirius radio show, "Cooking with Emeril," takes calls and features various guests. He did it from Emeril's in New Orleans as part of the 20th anniversary.

Lagasse also has partnered with Allen Brothers Steaks to launch Emeril's Red Marble Steaks. The products will be available for purchase online beginning next month.

And his new television show - with a band, celebrity guests and a live television audience - began April 18 on ION Television.

"Despite 20 years, I think the public appetite for him has not diminished," said Tanya Steel, editor of Epicurious.com. "People love him. They think of him as this kind of big-hearted person with big-flavored food."