Hilton Food Group PLC Agreement with Dalco Food B.V. (3889E)
October 18 2018 - 2:00AM
UK Regulatory
TIDMHFG
RNS Number : 3889E
Hilton Food Group PLC
18 October 2018
18(th) October 2018
Hilton Food Group plc
Hilton agrees to purchase 50% shareholding in leading vegetarian
manufacturer, Dalco Food B.V.
Hilton Food Group plc ("Hilton"), the leading specialist
international food packing business supplying major food retailers
in Europe and Australia, is pleased to announce that, subject to
clearance from the Dutch competition authority, it has agreed to
purchase a 50% shareholding in Dalco Food B.V. ("Dalco"), a leading
vegetarian product manufacturer based in Oss, the Netherlands.
Hilton has agreed to enter into a joint venture agreement with
Dalco's shareholders, which includes an option for the remaining
50% of Dalco's shares in 2024.
This agreement with Dalco enables Hilton to significantly expand
its offering in the fast-growing vegetarian market. Hilton will
provide its manufacturing expertise and capital resources to enable
Dalco to expand its range into the next generation of vegetarian
products servicing not only Dalco's existing customers but also
Hilton's customer base.
Commenting on the agreement, Hilton CEO Philip Heffer, said:
"This agreement represents an exciting opportunity for Hilton to
broaden its offering in a growing segment of the market and meet
our customers' demands for Hilton to supply them with a range of
innovative, high quality vegetarian products. We look forward to
seeing the positive effects of our tried and tested business model
on this relationship, which will be supported by our flexible and
versatile approach to meeting local requirements."
Dalco CEO Marian Wagemakers added:
"We are pleased to have signed this joint venture agreement with
Hilton and look forward to the benefits and expertise that this
brings to our business and that we can bring to Hilton's business.
It will enable us to expand our operations and continue to focus on
giving our customers the right choices at competitive prices. I
value the mutual respect and cultural similarities which will
provide a strong base for a successful joint venture."
Notes to Editors
About Hilton:
Hilton Food Group plc is Europe's leading specialist
international food packing company supplying major retailers
including Tesco, Ahold, Coop Danmark, ICA and Sonae in Europe and
Woolworths in Australia. Hilton had sales of GBP1.4 billion in 2017
and employs around 4,300 people across its sites.
About Dalco:
Dalco Food B.V. was established by the Wagemakers family in
1975. Today Dalco develops and supplies vegetarian products to a
broad range of customers worldwide from its two facilities located
in the Netherlands.
For further information please contact:
Hilton Food Group plc Tel: +44 (0) 1480 387214
Philip Heffer, CEO
Nigel Majewski, CFO
Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571
Angharad Couch
Ellen Wilton
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END
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