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Woolies finds European partner
A major European food company has entered into its first business venture in Australia.
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Firm: Holding Redlich (Hilton Food Group plc)
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Deal: Joint venture between major European retail meat-packing company Hilton Food Group and Woolworths
Area: M&A
Value: Undisclosed
Key players: Partner Jon Cane led the transaction for Holding Redlich
Deal significance: The Hilton Food Group is a leading European packager of fresh meats for the retail industry and this joint venture agreement represents its first involvement in the Australian market.
The agreement with Woolworths has led to the setting up of a new company, Woolworths Meat Co Pty Ltd, which is half owned by a subsidiary of the Hilton Food Group, Hilton Foods Asia Pacific Limited.
The other half of the new company is owned by Woolworths.
The new company will operate the Bunbury Meat Centre near Perth, responsible for supplying fresh meat to Woolworths stores in Western Australia.
“This is an exciting time for the Hilton Food Group, which has been expanding geographically over the last decade,” said Cane.
