Major Australian poultry business Inghams Enterprises will go up for sale this year.
The only shareholder of the company, Bob Ingham, announced that he is preparing the company for sale, after careful consideration.
“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.
The company is believed to have made sales of more than $2 billion in the last financial year.
Inghams produces a range of fresh and processed poultry products, as well as animal stock feed, and holds a 35 per cent share of Australia’s chicken and turkey market.
The company has predicted that the sale will not result in any job losses for its 9000 employees, but ultimately that decision will depend on the buyer.
Investec Bank (Australia) has been tasked with managing the search for a new buyer, but no decisions have been made about the type of buyer they are after.
There has apparently been some interest from several overseas buyers, as well as Australian bakery companies.
Inghams has confirmed that daily operations will continue as usual under chief executive Kevin McBain.