Hilton Food Group Eyes £80 Million Acquisition Of Seachill
Retail meat-packing company Hilton Food Group has announced plans to acquire Seachill - the UK business of seafood company Icelandic Group.
The company has agreed to purchase the fish supplier for £80.8 million, adding that it would be a 'strategically and financially compelling transaction' for Hilton.
"The processing and supplying of fish and seafood into the UK is an attractive and growing market and one where we see considerable opportunities to build Hilton's business," said Robert Watson, chief executive of Hilton.
"Our initial discussions with key customers support this view and we look forward to broadening our offering to both our UK and overseas customers alongside our existing meat business."
International seafood giant Icelandic Group announced the decision to sell its UK operations in April.
Seachill is a supplier of chilled fish to the UK retail market, and owner of The Saucy Fish Co. The business employs over 750 people in the country.
The acquisition is part of Hilton's expansion plans. Last month, the group reported revenue growth of 9.3% in the first half of 2017, and said that it was considering a number of growth opportunities.
Yesterday, the company announced that it is investing €33 million in a new facility in New Zealand.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.