Sara Lee's Australian and New Zealand businesses have been sold to a private company owned by Klark and Brooke Quinn, marking a significant shift in the FMCG landscape. The announcement was made by Vaughan Strawbridge, Joseph Hansell and Kathryn Evans of FTI Consulting, who were appointed as the voluntary administrators of Sara Lee on 17 October 2023. The sale concludes a competitive process, reportedly attracting the interest of up to 50 local and international parties, and secures the jobs of more than 200 employees.

Sara Lee, established in Lisarow NSW in 1971, is renowned for its range of desserts including frozen cheesecakes, pies, crumbles and ice cream. The Australian Sara Lee business trades under licence from the global owner of the trademark, with rights to operate in Australia, New Zealand, South East Asia and the Middle East. The business also exports products to South East Asia and the Middle East.

The Quinn family has a proven track record in turning around FMCG businesses, including the successful purchase and turnaround of the iconic Darrell Lea brand out of voluntary administration in 2012. The family's private company bought out the brand, turned it around and sold it six years later for $200 million to Quadrant Private Equity.

"Sara Lee is 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," said Administrator Vaughan Strawbridge.

Klark and Brooke Quinn expressed their excitement about the acquisition, issuing statement saying, "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."

The sale is expected to be completed in the coming weeks.