Jahm Najafi made the pact to sell Deen's pots and other cooking related items.
The company owns SkyMall magazine, the Book of the Month Club and Columbia House.
Deen, 67, admitted last year she used the N-word in reference to an African-American man who robbed her at gunpoint decades ago.
The confession sparked a media firestorm and, although Deen apologized for her behavior and insisted she is not a racist, she was fired by the Food Network and lost numerous product endorsement deals.
Swim Week Miami Beach 2014 [PHOTOS]