A forum is being held tonight for suppliers from across the country. See the press release below:
Sydney, Australia, 31 January 2008. One of Australia's leading poultry producers, Bartter-Steggles, is holding a national supplier forum today in a bid to help drive growth across its business.
The news comes following the release of an Information Memorandum on the company as it seeks to encourage investment to accelerate the growth of the business.
The Chief Executive of Bartter-Steggles, Geoff Frost, said: “This is the first of a series of annual supplier forums will we be hosting to continue to drive improvement and innovation across our iconic business.”
“With a 26% and growing market share of the $2.7 billion chicken and turkey meat industry we are focused on delivering our twin strategies of business process improvement and product innovation and our suppliers are key to our success.”
“We have invested heavily in business improvement during the last 18 months and have delivered $24 million in annualized cost savings for the year to June 2007 and we are looking to our suppliers to follow our led,” said Mr Frost.
“We expect to take another $12.9 million in cost out the business this financial year, which can partly be attributed to the growth partnerships we have formed with a number of our suppliers
“Coupled with our business improvement achievements, with the support of our suppliers we have successfully launched a number of new high growth products in the market and we have a strong product development pipeline with another 20 products set for release over the next 18 months.”
According to Bartter-Steggles, National Procurement Manager, Eugene Visione: “Twelve months ago we launched a strategy to aligned our suppliers with operational excellence business model and it is delivered real benefits.”
“We look to take a partnership approach to our supplier arrangements and have developed a structured, performance focused, supplier management program that delivers growth and benefits both parties,” said Visione.
Thursday, January 31, 2008
New Steggles Logo
Steggles has a new logo - it's now a registered trademark.
Looks good enough to eat!
Sale to share market
Did Bartters consider offering the company on the stock market via an Initial Public Offering?
Wednesday, January 30, 2008
Tuesday, January 29, 2008
Sue Mitchell of the Austalian Financial Review reports on the proposed sale of Bartter-Steggles
On 23/1/08 under the headline Bartter Brothers Hatch A Sales Plan Mitchell wrote:
Bartter-Steggles, Australia's second-largest poultry producer, has been put up for sale. The privately-held business, is jointly controlled by brothers Peter and David Bartter, who each own half of the firm. Business valuer Grant Samuel & Associates is due to release an information memorandum this week. Bartter-Steggles has a 26 per cent share of the domestic poultry market - second only to Ingham's Enterprises - and forecast pre-tax earnings this year of A$47 million on sales of A$860 million. The company's chief executive, Geoff Frost, said Bartter-Steggles had achieved A$24million of annualised cost savings in 2007, and forecast at least A$12.9 million in savings this year. Analysts expect the business to sell for between A$300million and A$400 million.
Bartter-Steggles, Australia's second-largest poultry producer, has been put up for sale. The privately-held business, is jointly controlled by brothers Peter and David Bartter, who each own half of the firm. Business valuer Grant Samuel & Associates is due to release an information memorandum this week. Bartter-Steggles has a 26 per cent share of the domestic poultry market - second only to Ingham's Enterprises - and forecast pre-tax earnings this year of A$47 million on sales of A$860 million. The company's chief executive, Geoff Frost, said Bartter-Steggles had achieved A$24million of annualised cost savings in 2007, and forecast at least A$12.9 million in savings this year. Analysts expect the business to sell for between A$300million and A$400 million.
Bartter-Steggles' search for investors attracts wide interest
Poultry producer Bartter-Steggles is seeking investors to acquire or invest in the business to help fund future growth.
Read all about it here
Already the potential sale of the company has attracted wide interest from private equity firms and trade groups in the sector.
Over the past four years, Bartter-Steggles has focused on trends such as healthier eating, pre-prepared meals and product innovation. The company says its product pipeline is strong with a further 20 new products to be released over the next 18 months.
The CEO, Geoff Frost, said the company's experienced management team had continued to drive improvements across the business. The team, he said, remained focused on accelerating earnings growth and taking the business to its next stage of development.
Bartter-Steggles, with a market share of 26%, supplies Coles, Woolworths, Metcash, Franklins, FoodWorks, Lenards, McDonald's, KFC, Red Rooster, Oporto and Nando's.
Read all about it here
Already the potential sale of the company has attracted wide interest from private equity firms and trade groups in the sector.
Over the past four years, Bartter-Steggles has focused on trends such as healthier eating, pre-prepared meals and product innovation. The company says its product pipeline is strong with a further 20 new products to be released over the next 18 months.
The CEO, Geoff Frost, said the company's experienced management team had continued to drive improvements across the business. The team, he said, remained focused on accelerating earnings growth and taking the business to its next stage of development.
Bartter-Steggles, with a market share of 26%, supplies Coles, Woolworths, Metcash, Franklins, FoodWorks, Lenards, McDonald's, KFC, Red Rooster, Oporto and Nando's.
PEP a front-runner for Bartter-Steggles?
Private equity group Pacific Equity Partners has emerged as a potential buyer of the poultry processor, Bartter-Steggles.
Read all about it here
The Financial Review has been unable to obtain comment from PEP but says the purchase would enable PEP to create a fully integrated Australasian poultry operation suppying retailers, wholesalers and fast-food chains.
PEP controls New Zealand's largest poultry producer, Tegel Foods, and is also one of the biggest users of chicken meat in Australia as the franchisor of KFC.
Bartter-Steggles is a family-owned business with annual sales in excess of $800 million.
The AFR floats the idea that Inghams, the market leader in Australia, could also be interested in the company. More than a dozen potential buyers, including private equity and trade players, have shown interest in acquiring the poultry group.
Read all about it here
The Financial Review has been unable to obtain comment from PEP but says the purchase would enable PEP to create a fully integrated Australasian poultry operation suppying retailers, wholesalers and fast-food chains.
PEP controls New Zealand's largest poultry producer, Tegel Foods, and is also one of the biggest users of chicken meat in Australia as the franchisor of KFC.
Bartter-Steggles is a family-owned business with annual sales in excess of $800 million.
The AFR floats the idea that Inghams, the market leader in Australia, could also be interested in the company. More than a dozen potential buyers, including private equity and trade players, have shown interest in acquiring the poultry group.
Adelaide Advertiser reports on interest from private equity firms
The Adelaide Advertiser recently reported on the interest from private equity firms in the sale of Bartter-Steggles. 23/1/08 p 49
More Than A Chook Raffle
ON 23/1/08 John Beveridge of Melbourne's Herald Sun reported on the proposed sale:
Sunraysia Daily: Bartter cackling over buy offer
On 23/1/08 the Sunraysia Daily reported on the proposed Bartter-Steggles sale:
AAP reports on private equity interest in Bartter-Steggles
On 22/1/08 Carrie LaFrenz of the AAP reported on the interest Bartter-Steggles is attracting from private equity firms:
Border Mail Reports on Private Equity Interest
ON 23/1/08 the Border Mail reported on private equity interest in the proposed sale of Bartter-Steggles.
Under the headline 'Egg Scramble' the Mail reported that:
Poultry firm Bartter Enterprises said it had attracted interest from private equity firms and other players in the poultry sector over a planned sale of the company. Bartter said it would release information on January 31.
Under the headline 'Egg Scramble' the Mail reported that:
Poultry firm Bartter Enterprises said it had attracted interest from private equity firms and other players in the poultry sector over a planned sale of the company. Bartter said it would release information on January 31.
Poultry Company on the Lookout for Investors
The Daily Advertiser reported on the proposed sale of Bartter-Steggles on January 23rd, 2008.
Bartter-Steggles seeks investors to accelerate growth
The sale of one of Australia's leading poultry producers, Bartter-Steggles, has attracted interest from private equity firms and trade players from across the sector.
The company has announced intentions to seek investors to acquire or invest in the business to help fund the growth, development and modernization of the business.
Find more details about this story from the Queensland Business Review go here
The company has announced intentions to seek investors to acquire or invest in the business to help fund the growth, development and modernization of the business.
Find more details about this story from the Queensland Business Review go here
Poultry firm Bartter attracts interest
Unlisted poultry firm Bartter Enterprises Pty Ltd says it has attracted interest from both private equity firms and other players in the poultry sector as it looks to sell 100 per cent of its business.
Australia's second largest poultry producer, Bartter owns the Steggles brand, and is looking to become the first Australian family-owned poultry business to be put into private equity hands.
Read all about it here
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