Bostock Brothers' Organic Chicken Business Nears Acquisition by Ingham’s

Added 9 months ago

By Elizabeth-Marie Nes

Bostock Brothers' Organic Chicken Business Nears Acquisition by Ingham’s

In a significant move within the poultry industry, Bostock Brothers Limited (BBL), a prominent local organic chicken business, is on the verge of being acquired by industry giant Ingham’s in a multi-million dollar deal.

The Australian Stock Exchange recently received an announcement from Ingham’s, revealing their intention to acquire the entire Bostock Brothers organic chicken business in New Zealand for a substantial sum of NZ$35.3 million. The comprehensive deal encompasses poultry products, three freehold farming properties, and the primary processing plant. The anticipated completion of the sale is set for the end of September, pending satisfaction of various conditions, including approvals from the Commerce Commission and Overseas Investment Office.

Ingham’s CEO and Managing Director, Andrew Reeves, expressed enthusiasm about the acquisition, stating, “With the strong recovery in operational and financial performance of our New Zealand business, this acquisition represents a unique opportunity to further enhance our capabilities, extend our range and advance our plans for the business.”

Edward Alexander, Inghams Chief Executive, New Zealand, added, “The addition of the highly regarded premium Bostock brand and team strongly aligns with our objective to establish Inghams as the leading premium operator in the market.”

BBL, spearheaded by Ben and George Bostock, sons of Bostock New Zealand owner John Bostock, has gained acclaim for its organic chicken products. However, the potential acquisition by Ingham’s coincides with rumours that an overseas buyer may be eyeing the purchase of Bostock New Zealand.