Hilton Food Group plc (“Hilton”), the leading specialist international meat packing business, is pleased to announce it is to proceed with plans to expand its packing capability to New Zealand.
Hilton will construct a new meat processing facility in Auckland and supply Progressive Enterprises Ltd (“Progressive”), New Zealand’s leading retailer, trading as Countdown Supermarkets. As Progressive Enterprises LTD is also part of the Woolworths Ltd this development further strengthens Hilton’s existing relationship with Woolworths Ltd.
The development will take place as an extension of the existing site, and is subject to government approvals and the negotiation and finalisation of construction and tenure agreements. It is proposed that Hilton’s newly formed subsidiary, Hilton Foods New Zealand, will finance the new food packing facility, with commencement of production targeted for 2020.
The new facility will be capable of supplying Progressive stores in New Zealand with a range of beef, lamb, pork, chicken and added- value products. It is expected that Hilton’s investment in plant and equipment will be approximately NZ $ 54 m.
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
| A Hilton Food Group release || October 16, 2017 |||
