RECURRENT ANNOUNCES SALE OF SAVEUR TO EXECUTIVE EDITOR, KAT CRADDOCK

NEW YORK, April 10, 2023 /PRNewswire/ -- Recurrent announced today that it completed the sale of SAVEUR, the culinary and travel-focused media brand devoted to bringing global flavors of the world to home cooks everywhere. The acquiring party was longtime SAVEUR editor and current Editorial Director, Kat Craddock.

"I got into the restaurant industry and ultimately food journalism because I grew up reading and cooking from the pages of SAVEUR with my family. The brand has grown and evolved a lot since it was founded in the '90s, and it's still beloved by so many," said Craddock. "The last three years at Recurrent have put us in a really strong position to strike out on our own with a freshly redesigned website, technical support, and an all-star editorial team. SAVEUR was founded by editors, and this is an unprecedented opportunity to bring our legacy brand back into the hands of editors who love it. In the months ahead, I'm excited to lean back into SAVEUR's roots while continuing to explore new ways to reach the next generation of readers as well."

The sale was prompted by Craddock, who approached Recurrent's leadership about an acquisition earlier this year. As per the agreement, SAVEUR's nearly 30-year back catalog and digital assets are all being transferred to Craddock as Editor-in-Chief and CEO, effective immediately. A majority of SAVEUR's full-time staff will remain with the brand, and Craddock expects to create several new roles and to further expand the publication's vast international contributor list in the coming months. Read more from Craddock about the acquisition here.

"It is fantastic to see SAVEUR in the hands of a talented creative with such a strong personal connection and history to the brand," said Alex Vargas, Recurrent CEO. "When Kat approached us we weighed that heavily in our decision. I'm excited to see her and the team build on the foundation that we established while Recurrent moves forward with a more focused portfolio of market-leading brands in Home."

Craddock has over twenty years of experience in food and food media. She initially joined SAVEUR's Test Kitchen in 2015 and worked her way up to Food Editor and Test Kitchen Director in 2019. She was promoted to Executive Editor in 2020 and Editorial Director in 2021. Prior to making the switch to editorial, she spent 15 years working as a bread baker, pastry chef, and cheesemonger in restaurants and specialty shops throughout New York City, Boston, and Chicago. Notably, she spent two years working for Thomas Keller at Per Se and Bouchon Bakery and four years for Andrew Carmellini at Lafayette Grand Café.

SAVEUR is the definitive go-to guide for passionate cooks and culinary explorers aiming to bring global flavors to every home kitchen. Since 1994, SAVEUR has celebrated the culture of food, drink, entertaining, and travel through stunning photography, deeply reported stories, and rigorously tested recipes that transport and inspire.

Recurrent is a digital media company whose content from trusted brands aims to foster generations of passionate audiences across enthusiast verticals. With social responsibility and sustainability at the center of its storytelling, Recurrent takes an innovative growth approach and creates content that is valuable to its readers, business partners, and the planet. Its titles such as Dwell, Popular Science, Donut Media, and Task & Purpose inspire and inform more than 65 million unique visitors each month.

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SOURCE Recurrent Ventures