Licorice / Industry Trends / News

Australia-based Darrell Lea soon could be for sale

Company under review, faces financial crisis

One of Australia's most popular confectionery companies soon could be up for sale.

Darrell Lea, known in the United States mainly for its soft-eating licorice, has brought in PPB Advisory to conduct an ongoing review of its business after growing concerns about the company's ability to meet ongoing financial obligations.

The company, an iconic Australian brand and a manufacturer and retailer of confectionery products, was founded in 1927 and currently is 100% owned by the Lea family.  

In a statement, Mark Robinson of PPB Advisory, says the owners of the company have agreed to provide some short-term financial support while PPB does “an urgent review” of Darrell Lea.

“We will work with all stakeholders including employees and their representatives, licensees, customers and suppliers to ensure the business continues to operate effectively,” Robinson says.

News outlets throughout Australia reported the news with sadness. The Herald Sunheadlined its coverage “Nation stunned as Darrell Lea stumbles,” while the Northern District Timestitled it story, “Chocoholics in the northern district mourn Darrell Lea.”

Darrell Lea products are sold through 69 owned and licensed stores and 1,800 retail outlets across Australia, New Zealand and the USA. The company employs about 700 people across its Sydney-based manufacturing facility and its retail network.

Did you enjoy this article? Click here to subscribe to Candy Industry

Recent Articles by Crystal Lindell

You must login or register in order to post a comment.



Image Galleries

A Venetian Carnival, a Jelly Belly sculpture and gourmet chocolates! Oh my!

Candy Industry takes you into the French Pastry’s School For the Love of Chocolate event in Chicago, held Feb. 25.

Candy Industry Magazine

Candy March 2015 Cover

March 2015

Check out some Chicago chocolatiers, a YouTube candy review sensation, Columbian cocoa, and more!
Table Of Contents Subscribe

Healthier Food Options

A recent Nielsen report shows that consumers are calling for healthier options from food manufacturers. Do you think consumers will actually buy healthier versions of their favorite candy and snacks if they’re made available?
View Results Poll Archive

Candy Industry Store

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Candy Industry\natural-food-flavors-colora.gif
Natural Food Flavors and Colorants

Although many foods are appealing, and even perceived as natural, in spite of containing synthetic additives, consumer increasingly prefer food products which are fully natural.

More Products

Candy Industry's Kettle Awards

Kettle Awards

Since 1946, Candy Industry magazine has recognized leaders in the U.S. confectionery industry with the highest recognition possible, the Kettle Award. The distinguished recipients have captured this most coveted award by not only excelling within their companies, but by contributing to the greater good of the industry. It’s virtually a who’s who of past and present professionals who have left their mark as confectioners and business mavens. Learn more about the voting process as well as the annual Kettle Awards Ceremony by visiting our Kettle Awards Website


fb40   twitter 40    youtube40    linked   Google+

Clear Seas Research

Clear SeasWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.