July 18, 2012

Poultry company Inghams prepares to sell assets

Australian poultry firm, Inghams, is planning to sell its assets after 94 years as a private business.

The Sydney-based company is owned by sole shareholder, Bob Ingham, who has been considering a sale for several years, according to a statement released by Inghams. The company has retained Investec Bank (Australia) Ltd. to manage the process of finding a suitable buyer from several unidentified potential bidders. That process is expected to take several months, and day-to-day operations will continue as usual under the direction of current Inghams CEO, Kevin McBain.

Founded in 1918, Inghams produces fresh and further processed chicken and turkey products through its production and processing facilities in Australia and New Zealand. Sales in fiscal 2012 topped US$2 billion.