PRIVATE investment firm TPG has bought family-owned chicken company Inghams Enterprises.
TPG made a deal on Saturday to buy Inghams — which started out on a small farm in Casula and became Australia's largest poultry producer.
Inghams would not disclosed the sale price but the Sydney Morning Herald reported online that TPG has paid about $880 million.
Inghams Enterprises' annual turnover last year was $2.2 billion. It employs more than 8000 people in more than 100 locations across Australia and New Zealand.
Bob Ingham thanked his management team, staff and customers for their support during the sale process and over the 95 years of the business's history.
"I am extremely proud of the business and its achievements to date, and it is exciting to see the business embarking on its next stage of growth under the ownership of TPG," he said.
"An important part of the decision for me was finding a buyer who would ensure that our customers will receive the highest level of service and our employees would be well looked after.
"I believe I have found that in TPG."
TPG's Ben Gray said the company was "privileged to be buying a great Australian business from a great Australian businessman".
"We look forward to continuing to grow, innovate with and serve the strong and loyal customer base and back the team led by Kevin McBain."
The everyday operations of Inghams will continue under the direction of the chief executive Kevin McBain and his team.
The company's headquarters are in Liverpool.
Mr Ingham and his family will retain their racing business as well as a property portfolio.