January 28, 2008

Australia's Bartter-Steggles seeks investors to develop industry growth
 

The company is seeking investors to acquire or invest in the business to help it development and grow in the $2.7 billion industry.

The sale has already attracted much interest from across the sector and Bartter-Steggles chief executive Geoff Frost has confirmed interests from a number of trade groups and private equity, with final bids due on March 31, 2008.

Bartter-Steggles has a market share of 26 percent with a strong product pipeline that has another 18 products set for release for the next 18 months.

Bartter Enterprises Pty Limited is Australia's second largest poultry producer. It manufactures and distributes fresh and frozen, whole and portioned chicken and turkey products nationally.

Steggles Foods is a major value-adding producer supplying cooked, semi-cooked and further manufactured chicken and turkey products to the retail, food service, and quick service restaurant channels.