Sara Lee sale official

Creditors have voted in favour of the sale

Beloved dessert brand Sara Lee is now officially Australian-owned after creditors voted on February 6 to accept an offer by the Quinn family of Queensland to buy the beleaguered company.

When the company went into administration on October 17 last year, 200 workers were left hanging with the future of the manufacturing giant in limbo.

Then in January, Gold Coast couple Klark and Brooke Quinn offered to buy the company, with 137 creditors voting in favour of the acquisition on February 6, with two against and one abstaining.

The business, established at Lisarow in 1971, has been a household staple for many and is perhaps best known for its iconic cheesecakes, pies, crumbles and ice creams.

It was placed in voluntary administration in October as its New Zealand owners struggled with debts of more than $50M.

The company still employs more than 200 staff at its Lisarow bakehouse, where desserts are baked fresh every day and the company prides itself on promoting quality, authentic ingredients.

During the period of administration, eight staff took redundancies (five administration staff, two production staff and one maintenance staff member).

Sale of Sara Lee products increased following news of the company’s troubles and this assisted in the process of company reorganisation.

Member for The Entrance David Mehan thanked the community for support shown to staff during a “difficult period”.

“This vote is a great outcome for the staff and the Central Coast,” he said.

The company’s portfolio also extends to food service and catering operations.

1 Comment on "Sara Lee sale official"

  1. Remember the ad jingle for Sara Lee? “Everybody doesn’t like something but noboody doesn’t like Sara Lee”. I just love that jingle & I love Sara Lee!

Leave a comment

Your email address will not be published.


*