Sara Lee, a renowned dessert brand, has gone into voluntary administration. FTI Consulting was appointed as a voluntary administrator. The Sara Lee business will be restructuring and selling, but it will continue operations as usual. With its longstanding manufacturing history in Australia, there is hope that this will continue.
Administrator Vaughan Strawbridge said that there was a high expectation of interest in the business, which FTI Consulting will collaborate with, along with Sara Leee stakeholders, to retrieve a favourable outcome as quickly and efficiently as possible to secure it as an ongoing business while also providing clarity to its staff and broad customer base.
In its manufacturing facility in Lisarow, New South Wales, Australia, established in 1971, there are around 200 staff employed. Since its establishment, the dessert brand has been a staple in Australian and Kiwi supermarkets and home freezers. Research conducted in 2021, Sara Lee held a market share of 53 percent across the frozen dessert market in Australasia. In 2021, the South Island Office acquired Sara Lee from McCain Foods in New Zealand for AU$95 million.
