Having only been with its new owners for seven years, Darrell Lea has been sold again to private equity, this time for a figure of A$200 million. Quadrant Private Equity purchased the company from the previous Gold Coast-based owners.
Quadrant’s Executive Chairman Chris Hadley said Darrell Lea was an iconic brand. “It’s been around for a long time, it’s got incredibly good market share,” he said.
“Our intention is to make it one of the largest private confectionery companies in Australia.”
Quadrant also plans to expand into more international markets.
“The confectionary industry is an attractive market,” Hadley said. “It’s very resilient, and it’s growing.”
Darrell Lea was originally founded in 1927 by Harry and Esther Lea in Manly.