(Bloomberg) -- Quadrant Private Equity is preparing a sale of Australian chocolate and liquorice maker Darrell Lea in the second half of this year, the Australian Financial Review reported Sunday, citing unidentified sources.

The AFR said UBS Group AG and law firm Gilbert + Tobin are expected to oversee the transaction, which given comparable international deals, could fetch a price-tag close to A$1 billion ($670 million). 

Quadrant paid around A$200 million for Darrell Lea in 2018, the AFR said. Quadrant executive Chris Hadley declined to comment to the AFR and Darrell Lea CEO James Ajaka didn’t respond to AFR requests for comment.

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