Ing­hams chicken busi­ness for sale

South Waikato News - - RURAL DELIVERY -

Aus­tralia’s largest in­te­grated poul­try pro­ducer, Ing­hams En­ter­prises, is up for sale, in­clud­ing the $320 mil­lion a year busi­ness in New Zealand.

The com­pany, which has al­ready notched up more than $2 bil­lion in sales so far in 2012, has pro­duc­tion and pro­cess­ing fa­cil­i­ties in Aus­tralia and New Zealand.

It pro­duces a wide va­ri­ety of chicken and tur­key prod­ucts as well as an­i­mal stock­feeds.

Bob Ing­ham, the long­stand­ing and sole share­holder of Ing­hams En­ter­prises Pty Ltd, an­nounced the sale plan ear­lier this month.

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

Ing­hams em­ploys 1000 peo­ple in New Zealand in feed milling, chicken farm­ing and pro­cess­ing and dis­tri­bu­tion of chick­ens and chicken prod­ucts. It re­ported a net profit for the year to June last year of $11.1m from its New Zealand op­er­a­tions.

Ing­hams en­tered the New Zealand mar­ket in 1990 when it bought Waikato- based Har­vey Farms’ chicken and feed op­er­a­tions and now holds the No 2 slot in the in­dus­try be­hind Tegel.

All its New Zealand chick­ens are pro­cessed at a Pi­ako plant, with most of its 600 work­ers com­ing from Te Aroha, Mor­rinsville, Mata­mata and the small towns in be­tween.

Ing­hams also has three feed­man­u­fac­tur­ing mills, one in Hamil­ton which spe­cialises in pro­duc­ing feed for meat chick­ens and two stock­feed mills in Mt Maun­ganui and Whanganui.

Ing­ham said the day- to- day op­er­a­tions of the com­pany would continue as usual un­der the di­rec­tion of Aus­tralian- based chief ex­ec­u­tive Kevin McBain and his team.

In­vestec Bank (Aus­tralia) Ltd 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. No sale price was men­tioned in the state­ment.

Tegel New Zealand was sold last year to Hong Kong- based Affin­ity Eq­uity Part­ners for $605m.

Fair­fax NZ

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