UK/AUS: Meat firm Hilton, retail giant Woolworths expand JV
Hilton's JV with Woolworths is company's first outside Europe
The Australian venture between listed UK meat supplier Hilton Food Group and Woolworths, the country's largest retailer, is to expand, with the construction of a new plant.
Hilton said this morning (20 August) Woolworths would build a processing facility in Victoria.
The site will be the second run by the venture, Woolworths Meat Co. The 50:50 JV also operates the Bunbury Meat Centre near Perth in Western Australia, which supplies products to over 80 Woolworths stores in the state.
The plans remain subject to government approval and completion of contracts. Hilton said the companies were targeting production to start in 2015.
Click here for an analysis of the JV when it was first announced earlier this year.
Hilton Food Group plc
Woolworths Meat Company Pty Ltd
Hilton Food Group plc ("Hilton") announces that Woolworths Limited is to proceed with plans to construct a new meat processing facility in Victoria, Australia.
The development is subject to government approvals and the negotiation and finalisation of construction and tenure agreements. It is proposed that Hilton's joint venture company in Australia, Woolworths Meat Co. Pty Ltd ("Woolworths Meat Co.") operates and manages the new facility, with a current target for the commencement of production of 2015.
Woolworths Meat Co. is 50 per cent owned by a Hilton subsidiary, Hilton Foods Asia Pacific Limited, and 50 per cent owned by Woolworths Limited, Australia's largest retailer.
Original source: Hilton Food Group
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