The Ingham family, who were once the largest private racing and breeding operators in the country, are selling their family chicken business in a deal that might be worth in excess of $1.5 billion.
The family head Bob Ingham, 81, has decided to put the massive private company on the market reported smh.com.au on Tuesday.
John Hexter, one of the management team handling the daily business of Inghams for many years, said Mr Ingham had ''decided that now is the time to seek a suitable buyer for the business'' said the smh.com.au report.
Mr Ingham's children, Robby, Lyn, Debbie and John, are not directly involved in the operation of the company.
Bob Ingham with his late brother Jack built the business after their father passed away in 1960 leaving them a chicken and pig farm to a size that is now reported to have a turnover of $2 billion.
The brothers build a breeding and racing empire through Woodlands Stud which was sold in total in 2008 to Dubai’s Sheikh Mohammed bin Rashid al-Maktoum for a sum estimated to be over $450 million. That operation now operates under the Darley banner.
The family then started again with racing stock purchased in conjunction with Rosehill trainer Chris Waller racing, in the main, in their famous cerise silks which was the only item of the Woodlands Stud era that they retained from the sale to Darley.
In more than 40 years in racing the Ingham’s won 84 Group 1 races with famous names such as Octagonal and Lonhro who is now a leading sire at Darley. The brothers were inducted into the Australian Racing Hall of Fame in 2004.
Lonhro and Darren Beadman wearing the cerise silks of the Ingham's, picture Sportpix.com.au