Quadrant Private Equity will divest its Darrell Lea confectionery business in the second half for around $1 billion as the global cocoa market starts to melt, the Australian Financial Review has reported.
AFR‘s sources said that Quadrant is anticipated to sell Darrell Lea to buyout firms with complementary businesses and will market the confectionery brand based on a $70 million earnings figure.
The sale comes after more than six years since Quadrant acquired a majority stake in Darrell Lea from the Quinn family for about $200 million in January 2018.
The original owners retained a minority stake in the business as “silent investors”.
The report noted that since the acquisition, the private equity firm has launched new product developments, installed four new liquorice manufacturing lines, and reinstated Darrell Lea as a significant liquorice brand internationally.
