Summary: After 50 years, Sara Lee Holdings, known for its frozen desserts, has gone into voluntary administration in Australia.
Sara Lee Holdings, the dessert maker known for its frozen cheesecakes, pies, crumbles, and ice cream, has entered voluntary administration in Australia after 50 years of manufacturing in the country. Vaughan Strawbridge, Kathryn Evans, and Joseph Hansell of FTI Consulting have been appointed as voluntary administrators and will work towards restructuring or selling the business while maintaining its operations. Sara Lee, which operates under license from the global trademark owner, was acquired by New Zealand private equity firm South Island Office in 2013. The administrators are aiming to secure the future of the business while seeking interested buyers or a restructuring plan.
Tags: Sara Lee, voluntary administration, Australia, dessert maker, restructuring, business sale