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Bravo-lebrity turned mega-reality-entrepreneur Bethenny Frankel is denying reports that she earned an underwhelming $8.1 million in the acquisition of her Skinnygirl cocktail line to Beam Global in March 2011.
“It’s completely inaccurate,” Frankel tells The Hollywood Reporter, the first outlet to report the sale of her juggernaut cocktail company for $120 million. “I’ve never wanted to discuss my net worth, but I’ve been quite successful. I would never allow my fans to believe something that wasn’t true.”
While Frankel is unable to confirm the final sale price (due to a non-disclosure with the liquor distributor), she stands by THR’s previous reports and shoots down a Huffington Post blog report that uncovered the company’s quarterly report that listed the acquisition’s purchase price as $8.1 million: “Frankly, I’m going to pay a lot more than $8.1 million in taxes. Are you really going to trust some blogger sitting in a dark room on his computer?”
Beam Global also denies the report, claiming Huffington Post blogger Rob Shuter misunderstood the company’s August 5, 2011 quarterly report.
“Contrary to recent media reports, the information in our second quarter 10-Q referenced as the purchase price relates to accounting goodwill attributed to the brand and not the purchase price for its acquisition,” a Beam spokesperson tells THR.
Frankel’s Skinnygirl cocktails have sold one million cases in nine months, making it the fastest growing spirits brand worldwide. “That would mean I sold the brand for $8 a case. That’s actually moronic,” the reality star says. “I have other issues in my life, but making money is not one of them.”
Huffington Post has since issued a correction on their website: “Our reporter misread the $8.1 million figure in the financial documents. As Forbes points out, the number refers to the amount of Skinnygirl attributed to goodwill, not the total purchase price. We regret the error.”
Skinnygirl recently announced two additional ready-to-drink cocktails to its line, including the recently launched Skinnygirl Sangria and Skinnygirl White Cranberry Cosmo. “There are probably about ten additional things coming out with Beam,” Frankel says. “I’m not an idiot, I didn’t hand over my company without any back end.”
As for her empire, Frankel says her Skinnygirl cocktail line is just one piece of the pie. The Bravo star’s Skinnygirl Face & Body Solutions line will be appearing in 1500 Wal-mart stores across the country and in Canada next month and recently signed a hyper-lucrative book deal with Touchstone Fireside for three additional titles.
“The whole thing is a joke. I would never allow my brand to be misrepresented. It was irresponsible journalism and misleading to the average person,” Frankel says. “Next week it will probably come out that Skinnygirl cocktails have no alcohol in them.”
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