Hilton Foods has secured £22m of investment for its supply chain management platform Foods Connected.
Hilton said it hoped the investment, from tech specialist investment firm Apax Partners, would help accelerate growth in the business.
Upon completion of the deal, Hilton Foods will hold 26% of Foods Connected, which provides real-time data to optimise supply chains, cut waste and improve quality standards, risk visibility and sustainability.
“We’re delighted to be partnering with the 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,” said Steve Murrells, Hilton Foods CEO.
He said the partnership would help Foods Connected deliver more value to customers, and was central to the company’s 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’s Global Impact fund, said the team had been closely following the food sector, with Foods Connected standing 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“Many food businesses still use outdated tools like spreadsheets and paper, creating a clear opportunity for Foods Connected to modernise operations.”
He said Foods Connected would push for growth in new markets, strengthen its sales and marketing, and “pursue strategic acquisitions”.
“We look forward to the journey ahead and the impact we can achieve together,” he added.
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