This sounds like there are some important facts left out.
Where is the breakdown of costs? If it included the whole re-branding i.e. new signs nation wide, new website, new educational and support material, new fit-outs instore etc, then I could see it adding up to this quite easily.
I highly doubt there is some graphic design company somewhere that got paid $4.6M to design a logo.
news.com.au, daily telegraph, smh, the australian - all dud papers/outlets that manipulate facts to "improve" their stories.