Hilton Food Group agrees to acquire HFR Food Solutions

Writer, Stock Market Wire
Friday, February 8, 2019 - 12:48

Hilton Food Group said it had agreed to acquire sous vide manufacturer HFR Food Solutions for around £3.3m.

The deal involved payment of a nominal £100 sum paid on completion, with the remainder payable three years after completion.

The deferred consideration would be calculated by subtracting the net debt of HFR from the enterprise value of HFR, with each metric calculated as at 28 February 2022.

It was estimated that the actual deferred amount payable would be be around £3.3m, but the final amount would depend on the performance of the HFR business.

Hilton said it would provide a secured loan of £2.8m to HFR on completion to finance the company.

'This acquisition represents an exciting opportunity for Hilton to broaden its offering in a fast-growing segment of the market and meet our customers' demands for Hilton to supply them with a range of innovative, high quality sous vide products,' chief executive Robert Watson said.

At 12:48pm: (LON:HFG) Hilton Food Group PLC share price was -10p at 924p

Related content

Broker Forecast - HSBC issues a broker note on Hilton Food Group PLC

HSBC today initiates coverage of Hilton Food Group PLC (LON:HFG) with a hold investment rating and price target of 920p.

Broker Forecasts data provided by...

Fri, 25/01/2019 - 15:10

Hilton Food Group performance meets expectations on strength in UK, Ireland

Food packing business Hilton Food Group said annual performance met management expectations as higher turnover in the UK and Ireland propped up sales growth....

Thu, 10/01/2019 - 08:54

Hilton Food maintains momentum in second half; strengthens relationship with Tesco, Waitrose

Food packing group Hilton Food said Thursday it had continued to grow the business in the second half of the year.

In the UK, turnover...

Thu, 01/11/2018 - 09:20

Hilton Food acquires stake in Dutch-based Dalco amid push into vegetarian market

Food packing supplier Hilton Food said Thursday it had agreed to purchase a 50% stake in Dalco, a vegetarian product manufacturer based in the Netherlands....

Thu, 18/10/2018 - 07:56

The best funds on the market


Last year (2017) saw a record-breaking £46bn of cash invested
into UK funds, almost 600% more than in 2016 when initial fears

Thu, 20/09/2018 - 00:00