Under the terms of the agreement, Hilton will cooperate with Sonae to supply retail packaged fresh meat to its stores throughout Portugal. For the initial period of six-to-nine months, Hilton will work with Sonae to “improve” the group’s production facilities located in the country. Hilton said the sites will supply a “wide range of packaged meat”.
Hilton said it is expected that this agreement will lead to the formation of a joint venture “in due course”.
Commenting on the agreement, Hilton CEO Robert Watson said:”This is an exciting growth opportunity for HILTON FOODS to work with Sonae, Portugal’s leading food retailer, utilising our tried and tested business model in the Portuguese market.”
“As we have previously demonstrated, our flexible and versatile business model enables us to meet local requirements with customers in each country and as such, we are able to enter new territories successfully. We continue to look for further opportunities for geographic expansion,” Watson added.