Business
Co-operation Agreement in Portugal
Co-operation Agreement in Portugal.
About this update from Hilton Food Group Plc
[{"type":"text","content":"\n \nRNS Number : 3122D Hilton Food Group PLC 06 July 2016 \n\n \n \n \n6th July 2016\nHilton Food Group plc\n \nHilton signs Co-operation Agreement with Portugal's Leading Food Retailer\n \nHilton Food Group (\"Hilton\" or the \"Company\") is pleased to announce that it has signed an agreement with Modelo Continente Hipermercados S.A. (\"Sonae\") to enter a period of co-operation for the supply of retail packaged fresh meat into Sonae stores in Portugal (the \"Agreement\"). It is expected that this Agreement will lead to the formation of a joint venture with Sonae in due course.\n \nUnder the terms of the Agreement, Hilton will cooperate with Sonae for an initial period of 6 - 9 months to improve the production facilities located in Portugal. Products supplied from the facility will include a wide range of packaged meat.\n \nIt is expected that after the initial period of co-operation, Hilton and Sonae will form a joint venture to implement this partnership.\n \nCommenting on the agreement, Hilton CEO Robert Watson said:\n \n\"This is an exciting growth opportunity for Hilton Foods to work with Sonae, Portugal's leading food retailer, utilising our tried and tested business model in the Portuguese market. As we have previously demonstrated, our flexible and versatile business model enables us to meet local requirements with customers in each country and as such, we are able to enter new territories successfully. We continue to look for further opportunities for geographic expansion.\"\n \nCommercial Director Sonae MC: Eunice Silva \n \n\"We are pleased to be partnering with Hilton Foods and look forward to the benefits and expertise that will enable us to continue delivering the highest quality at the best prices for our customers. Continente will strengthen its leadership in the development of innovation and in the sustainable promotion of the agro food business in Portugal.\"\n \n\n\n\n\nFor further information please contact: \n\n\n \n\n\n\n\nHilton Food Group plc\n\n\nTel: +44 (0)1480 387214\n\n\n\n\nRobert Watson, OBE, Chief Executive\n\n\n \n\n\n\n\nNigel Majewski, Chief Financial Officer\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nCitigate Dewe Rogerson\n\n\n \n\n\n\n\nMaria Darby - Walker\n\n\nTel: +44 (0) 20 7282 2840\n\n\n\n\nEl...