“TN Bun Company Founder Cordia Harrington’s Journey to Selling Majority Stake and Managing Cash Windfall”
Harrington’s journey began with the realization that she needed to assess the value of her company as it continued to grow. With the help of an estate planner and a banker, she discovered that her business was worth much more than she had anticipated. This led to a majority stake sale to a private equity firm, bringing in a significant amount of cash.
After the sale, Harrington faced the challenge of deciding how to allocate the proceeds. She chose to reward her leadership team, pay off debt, and continue investing in the business. Her approach to sharing the wealth with her family was guided by a desire for them to continue working and learning, rather than relying on a sudden windfall.
Harrington’s charitable giving after the sale reflects her values of creating opportunities and making a difference in people’s lives. With the help of estate attorneys, she is able to ensure that her legacy of giving back will continue on.
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