Burt’s Bees founder Roxanne Quimby is selling off real estate in Palm Beach. Only a couple of years ago she bought four pieces of property that she paid $7.475 million for. She has all four on the market now with a total asking price of $10.45 million. She wants to sell three of the four. Whichever three sell first, she will retain the last one.
In the 1980s, Quimby founded Burt’s Bees, maker of lip balm and other personal care products. Three years ago she sold 80% interest to an investor for $177 million. She still sits on the board of directors.
Is Quimby reshuffling her finances in order to make more Maine land acquisitions? Perhaps but time will tell.
Tom Remington
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