Skinny Trademark Up for Grabs at Jan Auction; Skinny Nutritional CEO Salaman Seen in Running It’s one of those name-says-it-all trademarks just like Vitaminwater or 5-Hour Energy: Skinny Water. For calorie-obsessed, it would seem rich platform for easy-on-waistline bev items. So is it worth $1.5 mil to you? That’s minimum bid being sought by bankruptcy court for Jan 10 auction for assets of Skinny Nutritional Corp, which filed for Chapter 11 protection back in May. Bids are due in by Jan 8. If amount is brought in, about half of proceeds would go to settling claims of lender Trim Capital LLC, thereby leaving trademark free and unencumbered. Brands based on word “skinny” have thrived, of course, in categories like cocktails, but longstanding effort by publicly traded SKNY to carve out identity in enhanced-water segment have come to little so far, hit by frenetic discounting behind category-leading Vitaminwater and Vitaminwater Zero, as well as gov’t flak that made co drop Super CitriMax as active ingredient some years back. Co’s chmn/ceo Michael Salaman is said to be teaming with private equity/real estate investors UBS Partners of Philadelphia with bid somewhere in that $1.5 mil range in effort to reclaim control of co and resume efforts to build broad platform of zero-calorie brands. SKNY case is in hands of US Bankruptcy Court for Eastern District of Penn in Philadelphia. Recall that at one point co said it had lined up as much as $15 mil in funding from Trim, but only $1.27 mil actually came in and Trim then foreclosed on co with claim on intellectual property rights. No immediate response to call to Salaman today, and it’s not clear what other players may be interested in swooping in to try to win trademark.
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Here is some of the info BBI readers had access to recently:
- Red Bull Sets Sales Meeting, Preps Total Zero as Part of Trifecta
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- Monster Outerforms Rivals on Volume, Price in Dec
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- Body Armor Investor Repole: 'Had to Be Something Special' to Re-Enter Bevs; Seeing Repeat Biz Already; Believes All-in-One Concept Makes It iPhone of Bevs
- Adina Lays Off Sales Force while Continuing Search for New Partners
- FANCY FOOD: Republic of Tea Changes Packs to Celebrate 20 Years; Enters Sweet Tea Realm; Plans Probiotic, Red-Wine-Extract Additions to Be Well Line for Expo West
- PEOPLE: Kurtz Hits Ground Running at Bai; Body Armor Confirms 'Significant' Repole Investment
- SPECIAL REPORT: Vita Coco May Approach $200M Sales in 2012; National Rollout Should Be Complete; Will Reassert Tropical Positioning, Dial Up Paid-Media Budget
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- And much, much more!
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