Australians and New Zealanders have been buying Ingham Chicken in their local supermarkets for 80 years. Throughout that time, Ingham Enterprises, parent to the Inghams Chicken brand has remained a family-owned business.
Now that's about to change. In July Ingham's sole proprietor 81-year old Bob Ingham announced his plans to sell the company that was established in 1918 and that he inherited from his father in 1953. Ingham Enterprises is Australasia's largest integrated poultry producer, with production and processing plants throughout Australia and New Zealand.
Confidential sources have told Reuters that top private equity firms will bid for Ingham next week, the news service reported today.
Ingham appointed Investec Bank (Australia) Limited to manage the process of identifying a buyer, according to the press statement on the company site.
Potential bidders, according to Reuters' confidential source, include Blackstone Group and the Hong Kong-based Affinity Equity Partners, though neither could be reached for comment by Reuters.
In a climate of dwindling large investment opportunities for private equity firms, Australian food manufacturers are coveted for their resilient sales and solid cash flows that have withstood the global economic turmoil of recent years.
Ingham Enterprises has forecast 2013 earnings before interest, tax, depreciation, and amortization of about $200 million, Reuters reported.
Related Articles
Bob Ingham puts 94-year-old chicken empire up for sale: Three lessons for plucky entrepreneurs
Join the Conversation