Max Brenner has been saved at the last minute by Australian investment office Tozer & Co.
The dessert chain’s future was thrown into question earlier this month when it entered voluntary administration. It was then announced that 20 of the brand’s 37 Australian stores would be closed.
However, appointed liquidators BDO Australia issued a statement on 17 October revealing the sale of Max Brenner Australia to Tozer & Co.
“We are pleased to confirm that a new operator — Tozer & Co — have acquired the licence for Max Brenner in Australia,” BDO’s Business Restructuring Partner, Andrew Sallway said.
David Tozer, managing director of Tozer & Co, said: “We are delighted to have the opportunity to acquire Max Brenner in Australia. In conjunction with the Franchisor, we are excited by the prospect of investing, growing and developing a highly successful business. The brand has a rich history across the world and also within Australia.”
Tozer told The Sydney Morning Herald Tozer & Co will seek to finalise the transaction over the coming months. The sale price is yet to be confirmed, however the cafes and stores will continue to trade as usual in the meantime.
Tozer & Co is the family investment office of brothers David & Craig Tozer.
Craig Tozer is on the board of Craveable Brands, and Australian restaurant business with over 600 restaurant across the Red Rooster, Oporto and Chicken Treat brands, and is the current CEO of Oporto.