Final bids have been placed for the sale of Inghams Enterprises, one of Australia’s biggest poultry producers.
According to sources, the bids entered place the value of the company around $821 million. Companies named as bidders include U.S. private equity groups TPG Capital and Blackstone Group, Chinese agribusiness giant New Hope and New Zealand’s Affinity Equity Partners. Blackstone had reportedly removed itself from the bidding process in December 2012, saying the asking price was too high.
It was announced in July 2012 that Inghams would be up for sale, with information going out in September and initial bids submitted in October.
The sole shareholder of Inghams Enterprises is Bob Ingham. The firm was founded by his family in 1918 with a rooster and six hens. Since then, Bob Ingham and his brother Jack, have guided it to become a leading Australian poultry firm. Jack Ingham died in 2003, leaving Bob as the only shareholder.
Investec Bank (Australia) Limited was appointed to manage the process of finding a buyer.
According to sources, the bids entered place the value of the company around $821 million. Companies named as bidders include U.S. private equity groups TPG Capital and Blackstone Group, Chinese agribusiness giant New Hope and New Zealand’s Affinity Equity Partners. Blackstone had reportedly removed itself from the bidding process in December 2012, saying the asking price was too high.
It was announced in July 2012 that Inghams would be up for sale, with information going out in September and initial bids submitted in October.
The sole shareholder of Inghams Enterprises is Bob Ingham. The firm was founded by his family in 1918 with a rooster and six hens. Since then, Bob Ingham and his brother Jack, have guided it to become a leading Australian poultry firm. Jack Ingham died in 2003, leaving Bob as the only shareholder.
Investec Bank (Australia) Limited was appointed to manage the process of finding a buyer.
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