March 12, 2013
Global firm TPG buys Inghams worth US$880 million
Australia's largest poultry producer, Inghams Enterprises, was bought by global private equity firm TPG worth US$880 million.
TPG outbid rivals including Blackstone, Affinity and Chinese agribusiness company New Hope.
Ingham patriarch Bob Ingham Ingham, the sole shareholder in Ingham Enterprises, said in a statement that he was excited to "see the business embarking on its next stage of growth under the ownership of TPG".
Ingham chief executive Kevin McBain will continue to have control over the day-to-day operations of the poultry company, whose assets include factories, farms and a distribution network. Inghams and fellow supplier Baiada control more than 70% of the Australian chicken market between them.
