<article>Sydney-based private equity house <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Quadrant+">Quadrant </a>has acquired a 91-year-old confectionery maker <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Darrell+Lea">Darrell Lea</a> from the Quinn family for A$200 million ($160 million).</article>

Sydney-based private equity house <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Quadrant+">Quadrant </a>has acquired a 91-year-old confectionery maker <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Darrell+Lea">Darrell Lea</a> from the Quinn family for A$200 million ($160 million).
According to local media&#8217;s reports, the Quinn family agreed to sell 80-90 per cent stake in Darrell Lea to Quadrant. The deal is expected to be finalised by this month end.
Darrell Lea’s owner Tony Quinn confirmed with the media that his family would still hold a minority stake in the “low double-digit range” and that he would stay on as a “silent investor.”
Chris Hadley, executive chairman of Quadrant, told the Sydney Morning Herald that it intended to make Darrell Lea one of the largest private confectionery companies in Australia and expand the brand’s reach internationally.
Due to financial obligations, Darrell Lea closed half of its stores before being placed into voluntary administration in July 2012. Two months later, the Quinn family came to take over the business for A$25 million ($20 million). After the acquisition, the Quinns reduced the number of staff from 800 to less than 200 before injecting around $30 million into the company and building a second factory in Ingleburn.
Previously, the Quinns sold their stakes in VIP Pet Foods to Quadrant in 2015 for A$410 million. VIP was rebranded as Real Pet Foods and sold last year for A$1 billion to a consortium comprising New Hope Group, China’s agro-business giant Hosen Capital and Singaporean investment firm Temasek.
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Quadrant Private Equity has acquired a 91-year-old confectionery maker Darrell Lea from the Quinn family for A$200 million ($160 million).

Quadrant PE buys majority stake in Australian sweet maker Darrell Lea for $160m

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Quadrant PE buys majority stake in Australian sweet maker Darrell Lea for $160m

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