After 50 years of manufacturing frozen cheesecakes, pies, crumbles and ice cream in Australia, Sara Lee Holdings has gone into voluntary administration.
- Vaughan Strawbridge, Kathryn Evans and Joseph Hansell of FTI Consulting have been appointed as voluntary administrators
- The administrators are seeking to restructure or sell the business while its operations continue
- Sara Lee was acquired by New Zealand private equity firm South Island Office in 2021
The dessert maker, which began in the United States, started manufacturing in the New South Wales town of Lisarow in 1971.
The Australian based manufacturing business trades as Sara Lee under license from the global owner of the trademark, with rights to operate in Australia, New Zealand, South East Asia and the Middle East.
As of Tuesday, Vaughan Strawbridge, Kathryn Evans and Joseph Hansell of FTI Consulting have been appointed as voluntary administrators of Sara Lee Holdings Pty Ltd.
New Zealand private equity firm South Island Office acquired Australia's Sara Lee from McCain Foods in 2021.
The administrators will be seeking to restructure and sell the Sara Lee business, while continuing operations.
"Sara Lee is an iconic brand which produces quality Australian made products from its manufacturing facility in Lisarow NSW, where it employs some 200 staff," Mr Strawbridge said in a statement.
"We are working with Sara Lee's management team and staff to continue operations while we secure the future of the business.
"We are immediately commencing a process to sell or restructure the business and continue its long history of manufacturing in Australia."
Mr Strawbridge said they expected there would be a lot of interest in the business and would work to achieve an outcome as soon as possible to provide clarity to staff and customers.