LONDON: British food business Hilton Food Group said on Tuesday it has agreed to sell a stake in its supplier management platform, Foods Connected, to the Apax Global Impact Fund for £22 million ($28 mln), marking a strategic step to scale the technology-led platform.
The Apax Global Impact Fund, advised by private equity firm Apax Partners LLP, will acquire an undisclosed portion of Hilton’s shares in the digital supply chain company. Upon deal completion, Hilton will retain a 26% shareholding.
The investment is expected to accelerate Foods Connected’s growth trajectory, with plans to expand its data-driven solutions that aim to optimise food supply chains through enhanced cost efficiency, quality control, sustainability metrics and risk management.
Hilton CEO Steve Murrells said the tie-up allows the business to sharpen its focus on core food operations while reinforcing its commitment to innovation in supplier management. “Apax brings the capabilities and infrastructure to unlock the next chapter for Foods Connected,” Murrells said.
Apax Global Impact partner Edward Donkor said the fund views Foods Connected as well-positioned to modernise global food safety practices, noting the inefficiency of legacy tools still used across the sector.
The firms will jointly invest in market expansion, strategic acquisitions and technological upgrades aimed at scaling Foods Connected internationally.