To solidify its position as the leading premium operator in the poultry market, Ingham's Group Limited has announced its intention to acquire 100 percent of the Bostock Brothers Limited organic chicken business in New Zealand.
Established in 2014, Bostock Brothers is a certified organic poultry producer in New Zealand. Ingham’s operates in Australia and New Zealand and supplies poultry and fodder across both countries.
Inghams Group Limited will purchase the business for NZD $35.5 million or USD $21.94 million.
By purchasing Bostock Brothers, Inghams will acquire 100 percent of the shares, the brand and respect for poultry products, three freehold farming properties, and the primary processing plant located in Hastings, New Zealand.
This transaction will significantly benefit Ingham's Group Limited because of how Bostock Brothers' vertically integrated supply chain will enhance operational sturdiness. It will also allow Ingham's to leverage established high-value export channels and expand its reach into new global markets and customer divisions.
The acquisition of Bostock Brothers is a strategic and pivotal opportunity to augment capabilities, diversify product offerings and propel the company towards its growth objectives.
In early 2024, the Bostock Brothers captivated attention for their commitment to animal welfare and product quality. In line with this, they treated their chickens to a live symphony performance at one of their farms.
The acquisition is expected to be completed by September 2024. The company has stated that existing debt facilities will fully fund the transaction.
