1 Apr 2011

Sale of Tegel approved

6:16 pm on 1 April 2011

The sale of Tegel Foods to the Asia-Pacific private equity fund Affinity Equity Partners has been approved by the Overseas Investment Office.

Affinity reportedly paid about $605 million for the poultry producer.

Another Affinity-owned company, Colorado, was put into receivership on Thursday.

Tegel employs more than 1000 people.