Hilton Foods Group has completed £75m placing to fund the acquisition of, Fodden, a leading international smoked salmon producer.
The move is the latest in a string of acquisitions by Hilton Foods that include Dalco, a leading vegan and vegetarian food manufacturer and Fairfax Meadow.
Hilton have also invested in the expansion of Hilton Seafood, their leading supplier of seafood to the UK seafood market.
“The acquisition of Foppen is an exceptional opportunity for Hilton and another step towards our goal of becoming the global protein partner of choice. More and more consumers around the world are seeking affordable, high quality, and sustainable protein, and this acquisition will help Hilton take our offer into new markets and to new global customers for the first time,” said Hilton’s CEO, Philip Heffer.
“Foppen’s premium product portfolio and strong customer relationships are a great fit for Hilton’s model, while Hilton’s strong ESG credentials in seafood will make sure our future growth plans are sustainable in every sense of the word. We welcome Foppen’s management and employees and look forward to delivering profitable growth through the combination of Hilton and Foppen.”
In a recent trading update, Hilton Foods also pointed to promising developments in their Asia Pacific business that has experienced strong volume growth. In Europe, Hilton saw good volume growth across Tesco and Zabka, despite overall flat performance in the region due to the reopening of restaurants.