Business
Fresh Food Contract with Tesco Central Europe
Fresh Food Contract with Tesco Central Europe.
About this update from Hilton Food Group Plc
[{"type":"text","content":"\n \nRNS Number : 8197O Hilton Food Group PLC 24 August 2017 \n\n \n \n \n24th August 2017\n \nHilton Food Group plc\n \n \n \n \nHilton Signs Fresh Food Contract with Tesco Central Europe\n \n \n \nHilton Food Group plc (\"Hilton\"), the specialist retail meat packing business supplying major international food retailers in Europe and Australia, is pleased to announce it has signed a long term supply agreement with Tesco Central Europe (\"Tesco\") to produce fresh food. This development supports Hilton's strategy of providing key retail partners globally with a diversified food offer.\n \nThe five year agreement will involve building a state of the art factory in Poland, to produce items such as sandwiches, pizza, ready meals and soups; this requires an investment of c.6m euros in plant and equipment, as well as the construction of the factory itself for which we are planning a sale and leaseback. It is expected that production will begin in the first quarter of 2019.\n \nHilton and Tesco have also agreed to sign a further five year long term supply agreement for Hilton to continue servicing Tesco's Central European stores with pre-packed meat.\n \nCommenting on the agreement, Hilton Chief Executive Robert Watson OBE, said:\n \n\"We have a long and successful history of working with Tesco, one of the world's biggest retailers. This agreement represents an opportunity to enter a growing food segment of the market. We look forward to seeing the positive effect our tried and tested business model will have on this relationship, which will be supported by our flexible and versatile approach to meeting local requirements. We continue to look for further opportunities for geographic expansion.\"\n \nMatt Simister, Tesco Central Europe CEO, added:\n \n\"I'm delighted that we are extending our deep Group-wide partnership with Hilton to bring new manufacturing investment and capability to Poland. Our collective experience and expertise will bring new, innovative and high quality fresh and convenient products to our customers in Central Europe\".\n \nENDS\n \nNotes to Editors\n \nAbout Hilton\n \nHilton Foods is Europe's leading specialist fresh meat retail packing company supplying major retailers including Tesco, Ahold, ICA, C...