Hilton Food Group PLC - Huntingdon, Cambridgeshire-based 'multi-protein' food producer - Forms joint venture with National Agricultural Development Co in Saudi Arabia. The 10-year agreement will see Hilton Food develop red meat processing facilities in the country. These will be supplied by Nadec's cattle operations, and their production will be sold via Nadec's distribution network. Hilton Foods will hold 49% of the JV and contribute 49% of its SAR60 million initial investment. This is about GBP13 million, so Hilton's contribution will be about GBP6.5 million. The JV aims to start production by the second half of 2026.
Separately, Hilton Food says Patricia Dimond succeeded Angus Porter as senior independent director this past Saturday. Dimon also is a director of Foresight VCT PLC and Aberforth Smaller Cos Trust PLC. She joined the Hilton Food board in 2022.
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By Tom Waite, Alliance News editor
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