The Bell Food Group has announced that it is buying a controlling stake in Hilcona, purchasing shares held by the Toni Hilti Family Trust, which will see it become the sole owners.
The Swiss food group, which produces meat and seafood products, acquired an additional 49% stake in Hilcona this week, but the deal will be executed retroactively to January 2017.
Bell reports that the new ownership structure allows for a simplified management organisation, and ‘lays the foundation for further expansion and growth’.
Further Investment
The group also announced that it is building a new production plant for convenience products in Austria. It is investing €30 million in the development of the plant, which will provide 100 new jobs.
The plant is expected to be completed in September 2017, and to be commissioned in autumn 2018.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.
