Protein producer Hilton Food Group has announced that it has secured external investment into Foods Connected from Apax Global Impact Fund.
As Hilton Foods’ supplier management platform, Foods Connected’s technology provides real-time data to optimise supply chains and enhance cost efficiency, quality standards, risk visibility and sustainability. Hilton Foods has secured a strategic external investment into Foods Connected from the Apax Global Impact Fund, advised by Apax Partners LLP.
Hilton Foods will receive cash consideration of £22 million for the sale of its shares. Upon completion, the company will hold 26% of the Foods Connected business.
The producer stated that the investment will “build on Foods Connected’s success to date”, aiming to bring in additional capital and Apax’s technology expertise to “accelerate its next phase of growth”.
The board of Hilton said it believed that partnering with an “experienced technology investor” will accelerate growth in Foods Connected, which will serve as an enabler for the Group’s end-to-end supply chain management approach.
“This strategic investment strengthens our ability to meet clients’ evolving needs, underscores the platform we’ve built and enables us to sharpen our focus on our core food business.”
Steve Murrells, Hilton Foods
Steve Murrells, CEO of Hilton Foods, said: “We’re delighted to be partnering with Apax Global Impact team, who have the right experience, capabilities and infrastructure to help us realise, at pace, the full scale of the opportunities ahead for Foods Connected.
“This partnership positions Foods Connected to deliver greater value to customers and remains central to our strategy. This strategic investment strengthens our ability to meet clients’ evolving needs, underscores the platform we’ve built and enables us to sharpen our focus on our core food business. I look forward to working with the Apax team as we strengthen and grow Foods Connected, for the benefit of Hilton Foods and our international customer base.”
Edward Donkor, partner at Apax Global Impact, added: “We’ve been closely following the food safety sector worldwide, and Foods Connected stood out as a strong platform to invest behind. Many food businesses still use outdated tools like spreadsheets and paper, creating a clear opportunity for Foods Connected to modernise operations.
“We’re excited to partner with Hilton Foods and Roger McCracken, co-founder and CEO of Foods Connected, to accelerate the business’s expansion. Together, we’ll invest in new markets, strengthen sales and marketing, pursue strategic acquisitions, and increase value for existing customers through expanded capabilities and resources. We look forward to the journey ahead and the impact we can achieve together.”
