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Apax Global Alpha Limited (AGA) announced on 16 July 2025 that it expects to invest approximately €4.5 million indirectly in Foods Connected. This follows an agreement announced on 15 July 2025 by Apax Global Impact Fund (AGI), a limited partnership in which AGA participates, to make a strategic investment in Foods Connected, acquiring it from Hilton Food Group Plc. The transaction is expected to close in the next few months, subject to customary closing conditions.
| Date | 16 Jul 2025 |
| Time | 07:00:04 |
| Category | Acquisitions and alliances |
| ID | 1929R |
Apax Funds to make strategic investment in Foods Connected
Apax Global Alpha Limited ("AGA"), the closed-ended investment company providing access to the Apax Private Equity Funds, today announces that it expects to invest approximately €4.5m indirectly in Foods Connected.
On 15 July 2025, Apax Global Impact Fund ("AGI"), in which AGA is a limited partner, announced that it had reached an agreement to make a strategic investment in Foods Connected, a provider of end-to-end software solutions driving food safety, quality and compliance, from Hilton Food Group Plc, a leading UK-based multi-protein food business. The transaction is expected to close in the next few months, subject to customary closing conditions.
Founded in 2012 and headquartered in Northern Ireland, Foods Connected provides a suite of cloud-based software solutions designed to streamline operations and improve safety and quality across the food supply chain. The platform helps customers manage and report on supplier compliance, quality control, product lifecycle management, procurement, traceability, and sustainability. This investment builds on Foods Connected's success to date, bringing in additional capital and Apax's technology expertise to accelerate its next phase of growth.
AGI has a strong track record of supporting software and services businesses tackling key social and environmental challenges, and sees Foods Connected as well-positioned to scale globally while advancing safer, more transparent, and sustainable food supply chains. The transaction builds on AGI's experience investing in digital impact enablers, following investments in GAN Integrity and Bonterra.
Edward Donker, Partner, Apax Global Impact, said:
"We've been closely following the food safety sector worldwide, and Foods Connected stood 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. We're excited to partner with Hilton Foods and Roger McCracken, CEO at Foods Connected, to accelerate the business's expansion. Together, we'll invest in new markets, strengthen sales and marketing, pursue strategic acquisitions, and increase value for existing customers through expanded capabilities and resources. We look forward to the journey ahead and the impact we can achieve together."
Roger McCracken, CEO of Foods Connected, said:
"We're thrilled to be partnering with Apax Global Impact on this next phase of growth for Foods Connected. Their expertise in scaling technology businesses will be key to accelerating our global expansion and enhancing what we deliver for customers. We're also grateful to Hilton Foods for their incredible support over the past eight years, and we're pleased they'll remain a key partner on our journey as we continue to scale and strengthen the business with Apax Global Impact's backing."
Note that AGA's expected investment in Foods Connected is calculated based on the look-through positions of AGI's overall investment in Foods Connected and is translated based on the latest exchange rates available where applicable1. In March 2022, AGA made a commitment of $60m to AGI.
AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a portfolio of private equity funds advised by Apax as well as a smaller portfolio of debt instruments.
For more information about the transaction, please visit: https://www.apax.com/news/press-releases/
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Footnotes
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Based on Bloomberg closing EUR/USD FX rate on 14 July 2025 of 1.166 |
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Notes
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Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to "AGA" or "the Company". References to Apax Partners LLP have been abbreviated to "Apax" or "the Investment Adviser" |
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Please be advised that this announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 ("MAR") |
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This announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States or to "US persons" (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")) or into or within Australia, Canada, South Africa or Japan. Recipients of this announcement in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of the announcement may be restricted by law in certain jurisdictions |
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The information presented herein is not an offer for sale within the United States of any equity shares or other securities of Apax Global Alpha Limited ("AGA"). AGA has not been and will not be registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act"). In addition, AGA's shares (the "Shares") have not been and will not be registered under the Securities Act or any other applicable law of the United States. Consequently, the Shares may not be offered or sold or otherwise transferred within the United States, or to, or for the account or benefit of, US Persons, except pursuant to an exemption from the registration requirements of the Securities Act and under circumstances which will not require AGA to register under the Investment Company Act. No public offering of the Shares is being made in the United States |
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This announcement may include forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding AGA's intentions, beliefs or current expectations concerning, among other things, AGA's results of operations, financial condition, liquidity, prospects, growth and strategies. The forward-looking statements in this presentation are based on numerous assumptions regarding AGA's present and future business strategies and the environment in which AGA will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of AGA to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond AGA's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as AGA's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which AGA operates or in economic or technological trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. AGA expressly disclaims any obligation or undertaking to release any updates or revisions to these forward-looking statements to reflect any change in AGA's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this announcement, or to update or to keep current any other information contained in this announcement. Accordingly, undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this announcement. |
About Apax Global Alpha Limited
AGA is a Guernsey registered closed-ended investment company listed on the London Stock Exchange. It is regulated by the Guernsey Financial Services Commission.
AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses).
The Company makes Private Equity investments in Apax Funds, and has a portfolio of primarily debt investments, derived from the insights gained via Apax's Private Equity activities.
Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com.
About Apax
Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of nearly $80 billion. The Apax Funds invest in companies across three global sectors of Tech, Services, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.
Apax is authorised and regulated by the Financial Conduct Authority in the UK