date:Sep 04, 2012
Premium pet food company VIP Petfoods, owned by the Quinn family, confirmed the purchase today and the sale is set to be completed this week.
Darrell Lea went into administration in July this year and appointed PPB Advisory as voluntary administrators of the business to search for buyers.
Under the buyout agreement the Quinn family will drive a huge restructuring project of Darrell Lea that will involve investments in manufacturing, marketing and distribution as well as the closure of 27 loss-