The strategic investment comes from the Apax Global Impact Fund, with the Hilton Foods board hoping to leverage Apax’s “technology expertise to accelerate [the] next phase of growth” at Foods Connected.
Following the completion of the transaction, which is subject to customary regulatory approvals, Hilton Foods will retain a 26% stake in the business.
Foods Connected serves as an enabler for the group’s end-to-end supply chain management approach, utilising technology that provides real-time data to optimise supply chains and enhance cost efficiency, quality standards, risk visibility and sustainability.
Meanwhile, the Apax Global Impact Fund views Foods Connected as well-positioned to scale globally while advancing “safer, more transparent and sustainable” food supply chains.
Steve Murrells, CEO of Hilton Foods, welcomed the new partnership with the Apax Global Impact Fund team.
“[They] have the right experience, capabilities and infrastructure to help us realise, at pace, the full scale of the opportunities ahead for Foods Connected,” Murrells said.
“This partnership positions Foods Connected to deliver greater value to customers and remains central to our strategy. This strategic investment strengthens our ability to meet clients’ evolving needs, underscores the platform we’ve built and enables us to sharpen our focus on our core food business. I look forward to working with the Apax team as we strengthen and grow Foods Connected, for the benefit of Hilton Foods and our international customer base.”
Edward Donkor, partner at Apax Global Impact, added: “We’ve been closely following the food safety sector worldwide, and Foods Connected stood out as a strong platform to invest behind. Many food businesses still use outdated tools like spreadsheets and paper, creating a clear opportunity for Foods Connected to modernise operations.
“We’re excited to partner with Hilton Foods and Roger McCracken, Co-founder and CEO of Foods Connected, to accelerate the business’s expansion. Together, we’ll invest in new markets, strengthen sales and marketing, pursue strategic acquisitions, and increase value for existing customers through expanded capabilities and resources. We look forward to the journey ahead and the impact we can achieve together.”
