Roxanne Quimby, CEO of Burt’s Bees, is apparently in advanced talks to sell her all-natural skincare products company to an investment company. That’s according to this morning’s New York Post. The paper reports the company would fetch more than $175 million.
Quimby wants to use the money toward establishing a national park in Maine’s North Woods and will stay on as CEO if the sale goes through to investment firm AEA Investors. Burt’s Bees, which now has annual revenues of more than $50 million, was founded in Maine in 1984 when Quimby teamed up with beekeeper Burt Shavitz. Quimby bought out Burt in 1999.