Brazil-based beef producer Minerva S.A. has announced that it has entered into a mutually exclusive supply agreement in the UK with Hilton Food Solutions, the protein trading division of the Hilton Food Group.
The agreement will see Minerva supply its beef products into the British food service, food processing industry and retail sectors.
'Market Dynamics'
Fernando Queiroz, CEO of Minerva Foods, said, “The company is very excited about this partnership with Hilton Food Solutions. Minerva Foods has long wanted to get more involved in the UK market, in order to better understand market dynamics and the local customer’s profile. This partnership working alongside such a prestigious company allows us to do this.”
In the summer of 2021, Brazilian beef producer Marfrig Global Foods SA tried to acquire control of Minerva S.A. before announcing that it had bought a stake in poultry and pork processor BRF SA.
Hilton Food Group
In May of this year, Hilton Food Group said that trading in the year to date has been 'in line with the board's expectations', with sales up on the previous year due to the increase in raw material prices.
The company said that its Europe business reported turnover ahead of the previous year, again mainly driven by higher raw material prices.
Last year, Hilton Food agreed to buy smoked salmon producer Dutch Seafood Company for an enterprise value of €90 million, entering the US market and expanding into the protein category.
© 2022 European Supermarket Magazine – your source for the latest supply chain news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
