McCain Foods Hires Bankers to Lead Sara Lee Sale in Australia

McCain Foods has hired Rothschild Australia’s investment bankers to auction its frozen dessert and baked goods brand Sara Lee, and the bankers have been quick to target domestic private equity outfits and potential trade buyers.

According to the Australian Financial Review, Sara Lee has been pitched to potential buyers as a pandemic success story that had seen its sales boosted due to strong trading in recent months and changing consumer habits. The dessert brand’s strong trading through COVID-19 saw it post AUD96m sales in the 2020 financial year and more than AUD15m in earnings before interest, tax, depreciation, and amortization.

Rothschild’s bankers told interested parties that Sara Lee was the owner of one of the “largest bakery and dessert [facilities] in Australia.” Sources say that Rothschild has called for indicative bids by the end of this month.

Sara Lee’s facility was said to have a site replacement value of more than AUD160m and was operating at 50% utilization, leaving room to significantly increase production if required.

You might also like


Subscribe to our FREE NEWSLETTER and stay updated SUBSCRIBE

Privacy Preference Center

Strictly Necessary

These cookies are essential for websites built on Wordpress to perform their basic functions. These include those required to allow registered users to authenticate and perform account related functions.

wordpress_test_cookie, wordpress_{hash}, wordpress_logged_in_{hash}, wp-settings-{user_id}, wp_sharing_{id},gdpr[allowed_cookies],gdpr[consent_types]
_unam, _ga, _gid

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?