15^th July 2025

Hilton Food Group plc

Apax Global Impact Fund to make strategic investment in Foods Connected - accelerating future growth

Hilton Food Group plc ("Hilton Foods" or the "Group"), the leading international multi-protein food business, is pleased to announce that it has secured a strategic external investment into Foods Connected, its supplier management platform, from the Apax Global Impact Fund, advised by Apax Partners LLP ("Apax").

As part of the transaction, Hilton Foods will receive cash consideration of £22m for the sale of its shares. Upon completion, Hilton Foods will hold 26% of the business.

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.

The Board of Hilton believes that partnering with an experienced technology investor will accelerate growth in Foods Connected, which serves as an enabler for the Group's end-to-end supply chain management approach. Foods Connected's bespoke technology provides real-time data to optimise supply chains and enhance cost efficiency, quality standards, risk visibility and sustainability.

The Apax Global Impact Fund 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.

Steve Murrells, CEO of Hilton Foods, said:

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"We're delighted to be partnering with 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. 

This partnership positions Foods Connected to deliver greater value to customers and remains central to our 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, Apax Global Impact, added:

"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 Many food businesses still use outdated tools like spreadsheets and paper, creating a clear opportunity for Foods Connected to modernise operations.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, Co-founder and CEO of 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."

The transaction is subject to customary regulatory approvals.

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About Hilton Foods 

Hilton Foods is a leading international multi-protein producer, serving customers and retail partners across the world with high quality meat, seafood, vegan and vegetarian foods and meals. We are a business with more than 7,500 employees, operating from 24 technologically advanced food processing, packing and logistics facilities across 20 markets in Europe, Asia Pacific and North America. For almost thirty years, our business has been built on dedicated partnerships with our customers and suppliers, many forged over several decades, and together we target long-term, sustainable growth and shared value. We supply our customers with high quality, traceable, and assured food products, with high standards of technical excellence and expertise. 

About Foods Connected

Foods Connected is an award-winning cloud-based software platform that simplifies the food industry supply chain, optimising spend and unlocking the data businesses need to excel. Fast to roll out and even easier to use, the Foods Connected tools help customers manage and report on traceability, product lifecycle management, procurement, quality control and sustainability.

About Apax Global Impact

Apax Partners LLP is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and transform businesses. The firm has raised and advised funds with aggregate commitments of c.$80 billion. Apax Funds invest in companies across three global sectors: Tech, Services, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information, visit www.apax.com . Apax is authorised and regulated by the Financial Conduct Authority in the UK.

Apax Global Impact seeks out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around themes including Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers. Apax Global Impact leverages the deep expertise of the Apax sector teams, the strength and global scale of the Apax platform globally, and the value creation potential of Apax's Operational Excellence Practice.