Chocolate and confectionary maker Darrell Lea has been sold with over 400 jobs to be cut as part of the deal.
PPB Advisory, the administrators for the 85-year-old company, yesterday announced the sale of Darrell Lea to the Quinn family, the Queensland-based owners of the VIP Petfoods company.
Founded in 1927, Darrell Lea is an iconic Australian brand and a highly regarded maker and retailer of confectionary products. The Quinn family plans to continue the legacy of the company, with Australian manufacturing and distribution to continue. Products will continue to be sold through 1,300 licensed outlets, major grocery retailers and significant export customers.
As part of the sale agreement, PPB Advisory has initiated a further restructure of Darrell Lea to strengthen manufacturing, marketing and distribution operations and secure the employment of 83 employees.
The ‘loss making Darrell Lea retail network however will not see a future with the new owners, with the Quinn family to cease operations from the 9 September.
‘Through the restructure, the roles of 246 permanent and 172 casual employees will regrettably be made redundant. While this is unfortunate, the decision is necessary to strengthen the manufacturing and distribution operations, and ensure employment is secured for 83 manufacturing and administrative staff,’ PPB Advisory.