Hilton Food to Buy Two Australian Plants Operated by JV
February 26 2018 - 3:29AM
Dow Jones News
By Carlo Martuscelli
Hilton Food Group PLC (HFG.LN) said Monday that it plans to take
operational control and ownership over Australian assets currently
operated in a joint venture with Woolworths Group Ltd.
(WOW.AU).
The food-processing company said it will take operational
control of the Bunbury and Truganina meat plants from its joint
venture with Woolworths group for a two-year period.
Hilton said that at the end of the period it will buy the two
facilities outright from Woolworths for 85 million Australian
dollars ($66.6 million), which will be paid in cash or equity.
Hilton Food will continue to supply Woolworths with meat through
its subsidiary, Hilton Food Australia, it said.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
February 26, 2018 03:14 ET (08:14 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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