McCain Foods has signed an agreement to sell its Australian baked foods business Sara Lee to New Zealand-based group South Island Office (SIO) for a disclosed sum.
Sara Lee will join Original Foods Baking, a complementary company acquitted by SIO in 2020, which among others makes brownies, slices, and bites. The partnership will allow both businesses to gain exposure to new channels and markets.
“The future is bright for Sara Lee,” said Mr. Mackaness, CEO at SIO. “Uniting two great baking businesses that will work together to grow into Australia and New Zealand’s premier frozen baked goods supplier is genuinely exciting. We will be investing back behind the Sara Lee brand to continue to give Aussie and Kiwi consumers the great classics they love, with a lot of new products to come as well. Importantly, Sara Lee has been very much a sweet part of the Central Coast food manufacturing landscape for 50 years at the Lisarow bakery, and we look forward to this continuing well into the future”.
Source: Food Business News