eat packer Hilton Food Group today revealed it is to snap up smoked salmon giant Dutch Seafood Company (Foppen) for for €90 million (£76.9 million) in a move that will see the FTSE 250 firm enter the US for the first time.
Hilton, which processes and packages meat for supermarkets including Tesco, said it plans to raise £75 million via equity placing to part-fund the acquisition.
It is the latest in a string of buy-ups for Hilton, which reported £2.8 billion in revenues and £67 million in adjusted profits last year.
In recent months the firm has snapped up the UK’s largest hospitality-supplying butcher, Fairfax Meadow, for nearly £24 million, and vegan food producer Dalco.
Today Hilton said buying Foppen will give it access to a category “with a strong growth outlook”.
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Your 5-step guide to getting into the festive spirit in LondonThe company was founded back in 1994 in Huntingdon and went public in 2007.
Shares fell 0.1%, or 1.4p, to 1195p, this morning.
