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18 Oct 2018 | 07:56

Hilton Food acquires stake in Dutch-based Dalco amid push into vegetarian market

Food packing supplier Hilton Food said Thursday it had agreed to purchase a 50% stake in Dalco, a vegetarian product manufacturer based in the Netherlands.

Under terms of the deal agreement, Hilton entered into a joint venture agreement with Dalco's shareholders, which included an option for the remaining 50% of Dalco's shares in 2024, Hilton said.

This agreement with Dalco would enable Hilton to significantly expand its offering in the fast-growing vegetarian market.

Hilton would provide its manufacturing expertise and capital resources to enable Dalco to expand its range into the next generation of vegetarian products servicing not only Dalco's existing customers but also Hilton's customer base, the company said. 'This agreement represents an exciting opportunity for Hilton to broaden its offering in a growing segment of the market and meet our customers' demands for Hilton to supply them with a range of innovative, high quality vegetarian products,' said Hilton CEO Philip Heffer.

Story provided by StockMarketWire.com
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