Hilton Food to acquire 50% stake in Dutch company Dalco

UK-based food packaging business Hilton Food Group has agreed to acquire a 50% stake in Dutch company Dalco Food.

Financial details of the deal have not been divulged by either company.

Dalco will use Hilton’s manufacturing expertise and capital resources to expand its range of meat-substitute products, enabling Hilton to invest in the fast-growing vegetarian market.

Hilton Food Group 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.”

The deal is subject to approval by the Dutch Competition Authority.

Hilton also has the option to acquire the remaining 50% stake in Dalco by 2024.

Dalco CEO Marian Wagemakers said: “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.”

Dalco Food develops and supplies vegetarian products to a range of customers worldwide from its two facilities in the Netherlands.