The Quinn family who rescued Darrell Lea from voluntary administration six years ago has sold most of the company to a private equity firm for $200 million.
Sydney-based private equity firm Quadrant Private Equity will be the confectionery company's new owner when the sale is finalised on January 31, although the Quinns will retain a minority stake.
The company, which was placed into voluntary administration 2012 by the Lea family, has also reportedly picked up a large order from US retailer Walmart, according to outgoing owner Tony Quinn.
Quinn is a Queensland entrepreneur and founder of chilled pet food company VIP Petfoods, which he also sold to Quadrant Private Equity for $410 million in 2015.
Darrell Lea was founded in 1927 and after its acquisition, the Quinns constructed a brand new multi-million dollar facility in Western Sydney.
Last financial year, the company made over $110 million in sales, and Quadrant has said it will continue to grow Darrell Lea and expand its manufacturing capacity.
