Hilton Foods Ltd. has acquired 100% of the share capital of Fairfax Meadow Europe Ltd., a leading meat supplier to the UK food service sector, from Argent Holdings Ltd.
Fairfax Meadow was established over 40 years ago and supplies some of the largest businesses in the UK hospitality and travel sectors.
Hilton Foods is a wholly-owned subsidiary of the Hilton Food Group, which supplies Tesco Ireland from premises in Drogheda, Co Louth.
The group’s current chairman is Northern Irish businessman, Robert Watson.
Meat supply for Hilton Foods
Fairfax Meadow operates from four meat processing and packing facilities in Derby, Milton Keynes, north London and Southampton.
The business is now recovering strongly following the impact of Covid-19, as the UK hospitality and travel sectors fully reopen.
It's envisaged that the acquisition of Fairfax Meadow will improve access for Hilton to the out-of-home channel, contributing to further sustainable growth for the business.
This development into the food service sector will help ensure that Hilton is the protein partner of choice for customers across more mealtimes and meal occasions, according to the company.
Hilton has paid cash consideration of £23.8 million, taking into account adjustments for net debt and normalised working capital. The acquisition has been funded from the group's debt facilities.
Hilton's CEO, Philip Heffer, commented: "I am very pleased to announce the acquisition of Fairfax Meadow, the leading meat supplier to the UK foodservice sector.
“This transaction is all about growth. With its award-winning reputation, Fairfax Meadow represents a great opportunity for Hilton to expand into an adjacent and growing food service sector in the UK.
“It is another step towards our goal of becoming the protein partner of choice for every meal occasion, offering high quality, affordable, and rigorously sourced proteins for customers and consumers in the UK and across the world," he added.
Fairfax Meadow managing director, Penny Tomlinson said that the company has been built on a foundation of longstanding, strong, customer and supplier relationships.
"With Hilton's retail supply chain expertise, quality management and leading sustainability standards, together with our longstanding reputation for butchery and food service excellence, this is a fantastic opportunity," she said.
“I am excited for the next stage of our development as I continue to lead Fairfax Meadow within the Hilton family and to seeing the positive impact for our teams, our customers and our suppliers."