Herbert Smith Freehills has advised global private equity fund TPG International LLC on its acquisition of Ingham Group, the largest poultry supplier in Australia and New Zealand.
The transaction is the largest private equity M&A deal of the past 12 months. TPG was selected as preferred bidder following a competitive process involving multiple bidders.
Melbourne-based partners Baden Furphy and Robert Nicholson led a team advising on the acquisition strategy and documentation. Baden and Robert were supported by the corporate team, including senior associate Ben Landau and solicitors Kam Jamshidi and Julian Rebechi.
Partner Hayley Neilson advised TPG on all financing aspects of the transaction, supported by senior associate Jeremy Murnain and solicitor Hayden Guthrie.
“Buyer and lender appetite for quality assets continues to improve, particularly in respect of entities with iconic brands and strong market positions such as the Ingham Group,” said Baden Furphy. “We expect to see further activity from private equity houses in the Australian M&A market over the coming year as confidence continues to grow.”
Hayley Neilson commented that “the transaction demonstrates that there is a healthy appetite in debt markets for quality credits. It is reflective of the depth of experience and expertise of our leveraged finance group that we can support our clients on such landmark transactions.”
Herbert Smith Freehills has a long standing relationship with TPG and has advised the house on a number of merger and acquisition transactions, including leading market deals with Myer, Healthscope and the Alinta Energy debt for equity swap.
Thomsons Lawyers advised Ingham Group on this transaction, with David Zwi and John Martin leading the team.
