TGP earns $550M on sale of poultry assets

TGP earns $550M on sale of poultry assets

FarmOnline reports that private investment group TGP with $66 billion AUM sold AU$171.4 million of assets in Inghams Enterprises (an extensive portfolio of chicken production facilities in Australia and New Zealand) to Charter Hall Group. This brings the total sale of their Inghams Enterprise holdings to $550 million. According to the article, the Inghams portfolio consists of processing plants, feed mills, breeder farms and hatcheries.

Inghams customers include fast food giants such as KFC, McDonalds, Woolworths and Coles. Earlier this year, New Zealand group Caniwi Capital bought most of Inghams’ New Zealand assets for a reported $52 million, and in October property fund manager CorVal bought six of Inghams properties worth $100 million. Other buyers of Inghams’ assets include Ascot Capital and US based, W.P. Carey.

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