Hilton Food Group has agreed to acquire the remaining 50% shareholding of Dalco Food B.V., a Netherlands-based vegan and vegetarian food manufacturer.
The deal, subject to clearance from the Dutch competition authority, aligns with Hilton Food Group’s strategy to diversify and strengthen its protein offering within the vegan and vegetarian market, it said.
Dalco’s current management team will continue to play a significant role in helping Hilton Food Group deliver its ambitious goals, the company added.
The agreement will build on the success of the existing partnership between the companies and will see Hilton Food Group commit ongoing investment to significantly increase its production capacity and develop new, innovative, plant-based products.
'The Next Natural Step'
Hilton Food Group CEO, Philip Heffer, described the deal as “the next natural step” in its goal to broaden and diversify Hilton’s multi-protein offer.
“The completion of this transaction will further strengthen Hilton [Food Group]’s position within the vegan and vegetarian market, at a time when our customers are increasingly seeking out innovative, high-quality vegetarian products at scale.”
In 2018, Hilton Food Group announced plans to purchase a 50% shareholding in Dalco and completed the transaction in the following year.
Since then, it has leveraged its manufacturing expertise and capital resource to expand Dalco’s range to include the next generation of vegan and vegetarian products.
'Supportive Joint Venture Partner'
Dalco CEO, Marian Wagemakers, added, “Hilton has been a supportive joint venture partner of Dalco, and we are pleased to now become a full part of the Hilton Food Group.
“This transaction will enable continued investment in the business and it will underpin the next stage of Dalco’s growth. As a management team, we look forward to achieving further growth with this business and being part of its continued success.”