Hilton Food Group, an international multi-protein products business headquartered in Huntington, Cambridgeshire, England, has reached an agreement to acquire the remaining 50% of joint venture partner Dalco Food BV. Completion of the acquisition is subject to clearance from the Dutch competition authority, which is anticipated.
Oss, Netherlands-headquartered Dalco specializes in making vegan, vegetarian and plant-based meat products including frozen convenience meal components, finger foods, snacks, ready-to-eat meat strips, cooked meals and other items.
Since becoming a Dalco shareholder in 2019, Hilton has leveraged manufacturing expertise and capital resources to further expand its range into the next generation of vegan and vegetarian products. During this period, Dalco has grown significantly and performed ahead of management’s expectations.
The acquisition is in line with Hilton’s strategy to further diversify and strengthen its protein offering within the fast-growing vegan and vegetarian market. The plan is to provide additional investment capital to significantly grow its ranges and develop more innovative, plant-based products.
As part of the acquisition, Dalco’s current management team will continue to play a significant role in helping Hilton deliver its ambitious goals.
Commenting on the deal, Hilton CEO Philip Heffer, remarked: “Dalco is an outstanding business with a market leading vegan and vegetarian offer. Hilton and Dalco have had great success to date, and as part of this agreement, we look forward to driving forward Dalco’s continued growth.
“This is the next natural step in our ambitions to broaden and diversify Hilton’s multi-protein offer. The completion of this transaction will further strengthen our position within the vegan and vegetarian market, at a time when our customers are increasingly seeking out innovative high quality vegetarian products at scale.”
Marian Wagemakers, Dalco’s chief executive officer, added: “Hilton has been a supportive joint venture partner, 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 our growth.”