LONDON: Apax Global Alpha Limited (AGA) said on Wednesday it expects to invest approximately €4.5 million indirectly in Northern Ireland-based food tech firm Foods Connected, through its limited partnership in the Apax Global Impact Fund (AGI).
AGI has reached an agreement to acquire Foods Connected from Hilton Food Group Plc, with the transaction expected to close in the coming months, subject to customary conditions. Founded in 2012, Foods Connected provides cloud-based software aimed at streamlining operations, improving food safety, and boosting traceability across the supply chain.
AGA’s investment is calculated based on AGI’s position and applicable exchange rates. In 2022, AGA committed $60 million to AGI. Shares of AGA are traded on the London Stock Exchange.
Apax Global Impact said the investment aims to accelerate Foods Connected’s global expansion and strengthen its capabilities in food safety, sustainability, and digital compliance. The deal follows AGI’s prior investments in digital impact enablers including GAN Integrity and Bonterra.
“Foods Connected stood out as a strong platform to invest behind, offering modern solutions to an industry still reliant on outdated tools,” said Edward Donker, Partner at Apax Global Impact.
CEO Roger McCracken welcomed the partnership, noting that Apax’s technology expertise will drive further growth while Hilton Foods will continue to be a strategic partner.