Hilton signs agreement with leading Portuguese retailer
Hilton Food Group has announced it has signed a supply deal with Portuguese retailer Modelo Continente Hipermercados SA (Sonae).
The period of cooperation will see Hilton providing retail packaged fresh meat to Sonae stores, with the expectation that it will lead to the formation of a joint venture.
“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,” said Robert Watson, chief executive of Hilton.
“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.”
Under the conditions of the agreement, the two firms will work together for an initial period of six to nine months to improve production facilities located in Portugal.
“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,” commented commercial director for Sonae, Eunice Silva.
“Continente will strengthen its leadership in the development of innovation and the sustainable promotion of the agro food business in Portugal.”
Meanwhile, Hilton’s latest trading update in May said it made good progress in Western Europe, in a number of markets. It said that the Group’s financial position was strong, underpinned by good operating cash flows.
The Group expects to issue its interim results for the 28 weeks ended 17 July 2016 on 13 September 2016.
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