Inghams business sold to TPG

After putting the Inghams business up for sale in July 2012, Bob Ingham has agreed to sell the business to TPG, a leading global private investment firm, for a reported $880 million. The day-to-day operations of the company will continue as usual under CEO Kevin McBain and his team.

“An important part of the decision for me was finding a buyer who would ensure that our customers will continue to receive the highest level of service and our employees would be well looked after,” Ingham said. “I believe I have found that in TPG.”

“TPG is privileged to be buying a great Australian business from a great Australian businessman,” said Ben Gray from TPG. “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.”

Ingham thanked his management team, staff and customers for their support during the sale process and during the last 95 years of the business’ history. The Ingham family is retaining the Ingham racing business as well as a property portfolio, which is surplus to the operations of Inghams enterprises.