Tesco meat packer Hilton Food Group is set to break into Australia for the first time after agreeing a joint venture with Aussie retailer Woolworths.
From early 2013, a joint venture company - Woolworths Meat Co - will supply 84 Woolworths stores in Western Australia with a range of fresh meat including beef, lamb, pork and value-added products from Bunbury Meat Centre, near Perth.
Woolworths Meat Co is 50% owned by Woolworths and a new Hilton subsidiary, Hilton Foods Asia Pacific.
“The Board of Hilton believes that good opportunities exist for further collaboration with Woolworths in Australia through the new joint venture,” Hilton said in a statement.
The joint venture is the latest move by Hilton to tap into new geographic markets to fuel growth. Its last major investment was in Denmark, where it set up a facility in 2011 to supply Coop Danmark.