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CCBR March 2024

CCBR March 2024

This months Cover Story

Sara Lee new ownership

New life for Sara Lee with new owners

Central Coast, Lisarow based Sara Lee was bought out of Administration by Brooke and Klark Quinn, the saviours of the iconic chocolate brand Darrell Lea some ten years ago.

The new owners took possession on 12th February and moved quickly to reassure staff that the business would continue to operate and that their jobs would be safe.

CEO Mark Mackaness who has been with Sara Lee since 2019 remains with the company.

Mr Mackaness joined Sara Lee as Managing Director when the business was owned by McCain Foods having acquired it from Sara Lee’s US parent in 2013.  McCains subsequently invested over $40 million in new technology and plant before selling it to New Zealand private equity firm South Island Office (SIO) for some $90 million and retaining Mr Mackaness. However, SIO loaded the business up with debt.

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