Fund acquires Australian poultry giant for US$ 920 million
The TPG Private Equity Fund has bought Australia's largest poultry company, Inghams Enterprises, for Aus$ 880 million, or US$ 920 million. Inghams, together with the supplier Baiada, controls more than 70% of the Australian chicken meat market.
The company employs 8,000 people across Australia and New Zealand, having been founded in 1918 by Walter Ingham. After 94 years as a privately held company, it has been acquired by a consortium of banks. They are: Bank of America; Merrill Lynch; Nomura Holdings; Macquarie Group MQG.AU; ANZ Banking Group; Westpac Banking Corp; WBC.AU; HSBC; and National Australia Bank.
Information provided by AviSite, The Wall Street Journal, and World Poultry