The family that bought Darrell Lea out of voluntary administration in 2012 has come to the rescue of another loved brand, Sara Lee. Klark and Brooke Quinn have acquired the business as a going concern, securing more than 200 jobs and an assured supply of frozen desserts.
The sale involves the Australian and New Zealand businesses, which also export Sara Lee products to South-East Asia and the Middle East.
Klark and Brooke Quinn said, “We are a small Aussie family that shared in the tradition of having Sara Lee Apple Pie and Vanilla Ice-cream every Sunday night at the dinner table and could not be more proud to put the Aussie made and owned stamp on the Sara Lee brand.”
Vaughan Strawbridge, Joseph Hansell and Kathryn Evans of FTI Consulting were appointed as the voluntary administrators of Sara Lee on 17 October 2023.
Strawbridge said Sara Lee was an iconic brand and category leader.
“Staff and consumers have rallied behind the business during this tough time, and we are so grateful to the loyal workforce and management team who have made this process a success while they have continued to produce amazing products.
“We have enjoyed working with the Sara Lee team and are pleased to see them come through this process. Many staff have been with Sara Lee a long time and we have seen their passion for the business.
“In addition to the staff, we would also like to thank all the suppliers who have continued to support the business and to the customers, who have been vital to the continuation of the business. We look forward to its future success,” Strawbridge said, expecting to complete the sale in the coming weeks.
In 2012, the Quinns bought Darrell Lea after it had gone into voluntary administration. Six years later in 2018, it sold the majority of the business for $200 million to Quadrant Private Equity, keeping a minority stake in the confectioner.
In 2015, the family sold chilled pet food company VIP Petfoods, which it had founded, to Quadrant for $410 million.
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