Sale of Fairfax Meadow Europe Limited

29^th September 2025

Sale of Fairfax Meadow Europe Limited

Hilton Food Group plc ("Hilton Foods" or the "Group"), the leading international multi-protein food business, is pleased to announce it has sold the entire issued share capital of Fairfax Meadow Europe Limited ("Fairfax") to Sysco GB Ltd, (part of the Sysco Group).

The Disposal will result in Hilton Foods receiving gross cash proceeds of £54m and is expected to be earnings dilutive. The transaction includes a three-year supply agreement with Hilton Food Solutions, ensuring continuity of supply of the high-quality, internationally sourced meat products that Hilton Food Solutions provides to Fairfax Meadow.

As previously announced, Hilton Foods has commenced a project to shape its future strategy and define priorities. The sale of Fairfax Meadow is as a result of the ongoing evaluation of the Group's activities and represents a further step in aligning the business more closely with its core strengths. Work on this project is progressing well, and a further update will be provided in due course.

Steve Murrells, CEO of Hilton Foods, commented:

"Fairfax Meadow is a high-quality business, and we have supported its growth and development since 2021. I want to thank all our colleagues at Fairfax for their hard work and commitment and wish the entire team every success for the future as the business continues to grow under new ownership.

"At Hilton Foods, our objective is clear, to build on the strengths that have long defined our business. By refining our portfolio and focusing resources where our global expertise and strong customer partnerships create the greatest opportunities, we are reinforcing the platform for sustained growth and delivering attractive long-term returns."

Commenting on the acquisition, Paul Nieduszynski, CEO of Sysco GB, said:

"We are delighted that Fairfax Meadow will be joining the Sysco family. We have a strategic focus on providing the best centre of plate offer in foodservice, and the acquisition of Fairfax Meadow is a crucial next step in our plan to build leadership in the critical meat category.

"Fairfax Meadow is a great business with skilled and experienced colleagues and a superb reputation for producing quality meat, combined with great levels of service.

"We believe this is a complementary fit for Sysco GB, strengthening our fresh meat proposition across the country and bringing even greater value to our customers."

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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/204 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) and has been authorised for release by Robin Miller Group General Counsel and Company Secretary.

About Hilton Foods

Hilton Foods is a leading international multi-category food producer, serving customers and retail partners across the world with high quality meat, seafood, vegan and vegetarian foods and meals. We are a business of over 7,200 employees, operating from 21 technologically advanced food processing, packing and logistics facilities that serve over 19 markets in Europe, Asia Pacific and North America. For over thirty years, our business has been built on long-term 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 manufactured in our well invested, highly automated facilities.

About Fairfax

Fairfax is the UK's leading meat supplier to the foodservice sector. It operates across three meat processing and packaging facilities and serves some of the leading businesses in UK hospitality and travel.  Fairfax was established in the 1970's from a small group of local butchers in North London and has grown to become the leading Catering Butcher in the UK. Fairfax Meadow has been putting great meat on the menu for over 50 years and their unrivalled heritage, scale and expertise allow them to provide great quality meat and excellent service, consistently. Fairfax offer a national supply of a huge range of meat products including their own Himalayan salt dry aged beef and award-winning burgers and sausages.

About Sysco  

Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the food service and hospitality industries. With more than 75,000 colleagues, the company operates 339 distribution facilities worldwide and serves approximately 730,000 customer locations. For fiscal year 2025 that ended June 28 2025, the company generated sales of more than $81 billion. Information about our Sustainability program, including Sysco's latest Sustainability and Diversity, Equity & Inclusion reports, can be found at www.sysco.com.   

Sysco in Great Britain  

As Britain's leading national broadline supplier, Brakes delivers the highest quality fresh and frozen food and ingredients from its nationwide network of distribution centres to some of the nation's most famous pubs and restaurants, as well as schools, caterers, care homes and hospitals.  It has the biggest range of award-winning products in foodservice. Medina Foodservice and kff both offer a regional broadline service with a comprehensive range, delivered with a passion for customer service and local knowledge. Sysco fresh businesses in Great Britain are led by Fresh Direct, which is the leading specialist supplier of locally and globally sourced fresh produce and dairy across Great Britain, bringing the best of the seasons to chefs' menus, as well as the finest sourced fresh fish and seafood from M&J Fresh Seafood, as part of a consolidated delivery for many corporate customers.  The very best ingredients for chefs are available from fine food specialist Wild Harvest.  Campbell's Prime Meat is a premium, specialist butchery with more than 100 years expertise in providing top quality meat, fish and deli products to food businesses and consumers across Scotland and the UK. It supplies nine of the 13 Michelin-starred restaurants in Scotland. Brakes Catering Equipment provides commercial catering equipment for a variety of catering establishments and their services include a bespoke design service.  Specialist convenience supplier, Country Choice, completes the group and is Britain's leading supplier of in-store bakery and retail foodservice products. Sysco has 8,800 colleagues servicing more than 20,000 customers from 30 distribution centres across Great Britain.