Hilton Food Group PLC (HFG.L), a multi-protein food business, said on Tuesday that it has secured an external investment into Foods Connected, its supplier management platform, from the Apax Global Impact Fund, advised by Apax Partners LLP.
Under the terms, Hilton Foods will receive cash consideration of 22 million pounds for the sale of its shares. Post-transaction, Hilton Foods will hold 26 percent of the business.
"The Board of Hilton believes that partnering with an experienced technology investor will accelerate growth in Foods Connected, which serves as an enabler for the Group's end-to-end supply chain management approach. Foods Connected's bespoke technology provides real-time data to optimise supply chains and enhance cost efficiency, quality standards, risk visibility, and sustainability," the Group said.
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