Come to find out, the shocking accusation that Bethenny Frankel actually sold Skinnygirl for WAY less than reported was a bit off!
Apparently, if you read the 10-Q closely, the $8.1 report was only looking at value of goodwill attached to the brand.
Analyst R.J. Hottovy states:
The $8.1 million was just the amount of intangible assets purchased in the Skinnygirl transaction, essentially the amount Beam paid for the Skinnygirl brand rights—not the total purchase price.
So where is the actual purchase price? Nowhere to be found! The 10-Q is "very opaque," and with neither Bethenny nor buyer Beam disclosing, it's going to be hard to figure out.
Beam Spokeswoman Paula Erikson tells Forbes:
We will continue to disclose accounting data as required to be included in financial filings, but do not expect that a black-and-white lump sum purchase price figure will be made available. Suffice to say, this was not an $8.1 million acquisition.
And as for the Skinnygirl herself, she laughs the accusations off:
Come on. That it could be the fastest growing booze brand on the market and have sold for that little is just preposterous. I’m going to be paying a hell of a lot more than $8.1 million in taxes.
We guess the world will never know…
In other news, the drinks are still effin' delicious!
[Image via WENN.]
Tags: beam, bethenny frankel, business, forbes, money, paula erikson, purchase price, rj hottovy, skinnygirl