PEP no chicken with Tegel Foods exit
Pacific Equity Partners is seeking exit options for its New Zealand investee, poultry producer Tegel Foods, the country’s largest poultry producer, with a value estimated around A$600 million ($533.2 million), double the price that the ANZ private equity firm paid to US foods giant Heinz in December 2005.
PEP and Tegel have appointed Greenhill Caliburn and Morgan Stanley to look for best offers. Though Tegel and PEP declined any comment, Tegel said in its application filed with the Overseas Investment Office...
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