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Burt’s Bees Sold to Investment Firm for $175 Million

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By: TOM BRANNA

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Five months after putting itself up for sale, Burt’s Bees was sold to investment firm AEA Investors for more than $175 million. Owner and chief executive office Roxanne Quimby put Burt’s Bees on the selling block to give the money from the sale towards establishing a national park in Maine’s North Woods.The auction, which was handled by Elixir Advisors, was geared mainly toward buyout firms. Other bidders besides AEA included buyout firms Apax Partners and Charterhouse.Ms. Quim...

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