LONDON: Hilton Food Group plc has agreed to sell Dalco Food B.V., its Dutch-based vegan and vegetarian business, to Livekindly Production NL B.V. for total consideration of £5.4 million, the companies announced.
The deal is still subject to standard approvals and deliverables, including consultation with Dalco’s local works council, a statement said.
Hilton Foods, which bills itself as the international red meat partner of choice for major retailers across Europe, Asia Pacific and Australia, said the sale fits its strategy of concentrating investment on its core meat and fresh prepared food businesses while working to improve performance and extract more value from its seafood, vegan and vegetarian operations. The company completed a strategic review earlier this year that put its non-core units — including U.K. seafood business Seachill, Dutch salmon processor Foppen and Dalco — under separate, dedicated leadership with limited future investment.
Hilton Foods first bought into Dalco in 2019, acquiring a 50% stake in the Oss, Netherlands-based manufacturer, before taking full ownership in 2021. Founded by the Wagemakers family in 1975, Dalco makes plant-based snacks, finger foods and meal ingredients for retail, foodservice and business-to-business customers from two manufacturing plants in the Netherlands.
Dalco is expected to be classified as an asset held for sale in Hilton Foods’ 2026 interim results, due to be released Sept. 3. The unit posted an adjusted operating loss of about £2 million in the first half of 2026, which is expected to be reported as a loss from discontinued operations.
The buyer, Livekindly Collective, is a global plant-based food company founded in 2020 and backed by investment firm Blue Horizon. It has raised more than $500 million from investors including The Rise Fund, S2G Ventures and Blue Horizon, and owns a portfolio of brands such as Oumph!, The Fry Family Food Co., LikeMeat, No Meat and The Dutch Weed Burger. The company operates production facilities in Oss, Netherlands; Stora Levene, Sweden; and Pinetown, South Africa, and has said its plant-based business became profitable in 2025 after years of expansion through acquisitions, including Alpha Foods and Dutch Weed Burger.
Hilton Foods, listed on the London Stock Exchange’s FTSE 250 index, reported revenue of £4.21 billion for its most recent financial year, though adjusted profit before tax fell 3.8% to £73.2 million amid inflationary pressure and challenges at Seachill, Foppen and Dalco.
