Poultry processor, Baiada Poultry, has reached a deal to buy Bartter Enterprises/Steggles Foods from the founding Bartter family.
Baiada Poultry is the third-largest player in the $2.7 billion poultry industry, but a successful acquisition of Bartter/Steggles would increase its market share from 9% to 35%, ahead of market leader Ingham’s Enterprises, at 30%.
Baiada, founded by the Baiada family in 1960, is seeking clearance for the purchase from the Australian Competition and Consumer Commission, which has started an informal review and asked for submissions from interested parties.
Submissions are due by the middle of next week and the ACCC expects to make a decision by January 14.
The agreement between Bartter/Steggles and Baiada comes almost a year after the Bartter family first started seeking expressions of interest for the business.