Animal Crackers $48M Deal

Gary Vaynerchuk shares a story about almost acquiring the Animal Crackers brand.

"I had Animal Crackers bought and signed 4 years ago, but they pulled out late using a clause that allowed them to. The deal was for $48 million at the time. The brand was basically dead - they weren't doing anything with it.

I had the master plan: I was going to make it a healthier cookie brand to be on trend, but what I was really going to do was turn it into an animated film and build up characters like Larry the Lion. We were going to use it as a proxy to teach them how to do it.

The revenue was basically nothing at that point - they were valuing the IP, not the core business. They were just done with it, they needed out. It was all set up perfectly, but it didn't go through."