Food

Kitchens of Sara Lee on the block | 2020-10-16 – #NewsEverything #Meals

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SYDNEY, AUSTRALIA — McCain Meals (Aust) Pty. Ltd. has employed Rothschild Australia’s funding bankers to public sale the Kitchens of Sara Lee frozen bakery enterprise, in line with The Australian Monetary Evaluate. McCain acquired the Sara Lee enterprise from Hillshire Manufacturers Co. in 2013 for about $85 million. On the time, the transfer was described as a means for McCain to broaden its vary of merchandise throughout desserts, meals and snacking events.

Based on a teaser flyer despatched to potential acquirers and obtained by The Australian Monetary Evaluate, Sara Lee posted gross sales of $96 million within the 2020 fiscal 12 months and generated greater than $15 million in earnings earlier than curiosity, tax, depreciation and amortization. The flyer additionally mentioned Sara Lee had management of 53% of the Australian and New Zealand retail frozen desserts market.

Sara Lee opened the Kitchens of Sara Lee at Lisarow, on the New South Wales Central Coast, in 1971. The enterprise was established to produce Sara Lee merchandise not solely to Australia however to all the Indian Ocean, South East Asia and Pacific areas. As we speak, the corporate manufactures, sells and distributes a spread of Sara Lee branded merchandise within the frozen desserts, tremendous premium ice cream, pastries, frozen savory meals and frozen fruit classes.

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