Prospective buyers of high-profile confectionery brand Darrell Lea have some earnings numbers to sink their teeth into after sale documents were circulated.
Street Talk understands suitors and interested parties are learning of the extent of the turnaround story at Darrell Lea after its collapse five years ago.
Sources said Darrell Lea's annual sales were between $110 million and $120 million, with earnings before, interest, tax, depreciation and amortisation in the order of $20 million to $30 million.
That suggests a price tag of $200 million to $300 million if the business is sought after. This column last month revealed that PwC's Brisbane office was on deck to review the Quinns' investment in Darrell Lea and New Zealand business RJ's Licorice.
Rich Listers Tony and Christina Quinn acquired the business in 2012 and embarked on a cost cutting drive including closing stores and cutting staff numbers to about 120 from 800 previously.
They injected a lifeline of $30 million into the business and built a factory in Ingleburn, south-west of Sydney, as part of the strategy to expand Darrell Lea's product range.
