Hilton Food Group buys Fairfax Meadow for £23.8m
Hilton Food Group, which supplies Tesco with fresh food, has bought UK meat supplier Fairfax Meadows for some £23.8m.
“This transaction is all about growth,” CEO Philip Heffer explained. “Fairfax Meadow represents a great opportunity for Hilton to expand into an adjacent and growing foodservice sector in the UK.”
“We look forward to leveraging Hilton’s expertise, reputation and investment to grow and expand the Fairfax business, and we plan to offer Hilton’s broad product range, including sous vide, seafood and alternative protein products, to Fairfax’s customers.”
The group’s European revenues were “relatively flat” in the quarter, the group said in a statement, which signalled the post-lockdown boom of eating out.
While the group’s slow cooked business has continued to grow in the UK as well as central Europe, which will have bolstered its trading relationship with supermarket giant Tesco.
The move could pave the way for a revenue boost, similar to the impacts of Australian business growth last year.
Hilton Food took home £2.7bn last year, as the growth underpinned a revenue boost of 52.9 per cent.
by Millie Turner / City A.M.
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