Roxanne Quimby founded Burt’s Bees. She’s made millions. She’s bought up land in the thousands of acres in Maine and all but locked it out from recreational use. When she sold Burt’s Bees, she retained a 20% interest in the company. Now here’s something that is a bit mind boggling and potentially disturbing for Maine residents.
AEA Investors, the current owners of Burt’s Bees, has retained investment bank Goldman Sachs in order to help facilitate the sale of the company. It is being estimated that this sale could fetch as much as $1 billion dollars.
So, do the math and calculate the potential, without of course knowing any of the details of a payout for Quimby. A 20% share of $1 billion dollars is a lot of cabbage and could also buy up a lot more of Maine’s lands continuing to shut out more and more people, further limiting the available land for recreation.
Mind boggling and a bit too scary.
Tom Remington
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