July 18, 2012

Australia's Inghams Enterprises up for sale

 
As another Australian company challenges falling into foreign hands with Inghams Enterprises going up for sale.
 
The country's largest integrated poultry producer, which has already notched up more than US$2 billion in sales so far in 2012, has production and processing facilities in Australia and New Zealand.
 

A spokeswoman for Ingham did not rule out overseas offers.

"At this stage, Ingham is working with its financial adviser, Investec, to assess all options for the company," she said.

"While the intention is to sell the company, no decision has been made as to whom it will be sold to."

Bob Ingham, the long-standing and sole shareholder of Inghams Enterprises Pty Ltd, announced the sale plan Monday (July 16).

"My decision marks the next phase for the successful on-going development of the company and is one that I, as sole shareholder, have considered for a number of years," he said in a statement.

The day-to-day operations of Inghams will continue as usual under the direction of chief executive Kevin McBain and his team.

Investec Bank (Australia) Limited has been appointed to manage the process of identifying a suitable buyer from a broad range of potential bidders. The Investec managed process is expected to take several months.

Inghams Enterprises Pty Ltd, which produces a wide variety of chicken and turkey products as well as animal stock feeds, was founded in 1918.