Inghams sell up in Byron
NO JOBS will be lost at his Byron Bay poultry processing facility when chicken king Bob Ingham sells all of his Australian operations in the coming months.
The decision to sell up comes 15 months after Mr Ingham purchased the former Sunnybrand Chickens processing plant at Byron which resulted in the loss of 70 jobs.
Mr Ingham, the sole shareholder of Inghams Enterprises, said the decision came after long and 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.
Mr Ingham said his family had endorsed his decision and was proud to be associated with the largest integrated poultry business in Australia.
Inghams Enterprises director of group services John Hexton said he didn't expect there to be any job losses as a result of the sale.
"At this stage, we do not envisage any job losses as part of this transaction, although this decision will be ultimately made by the new owner," he said.
Inghams' day-to-day operations will continue as normal under the direction of CEO Kevin McBain and his team.
Investec Bank (Australia) Limited has been appointed to identify a suitable buyer for Inghams, a process expected to take several months.
Mr McBain said Inghams was committed to growing the business and continuing to offer its customers the highest levels of quality. Inghams was founded in 1918 and grew to become the largest integrated poultry producer in Australia.
Its 2012 sales are estimated to be more than $2 billion.