Hilton buys Dutch salmon producer Foppen for €90m

Hilton Food Group has agreed to acquire smoked salmon producer, Dutch Seafood Company – which trades as Foppen – for an enterprise value of €90 million.

The acquisition will expand Hilton’s presence in the protein category, as well as its entrance into the US market. The London Stock Exchange-listed company is also raising approximately £75 million via equity placing to partially fund the acquisition, which is expected to increase Hilton’s earnings in the first 12 months.

The deal also includes two smoked salmon facilities in Harderwijk, the Netherlands, and Preveza, Greece.

Hilton’s CEO, Philip Heffer, said: “The acquisition of Foppen is an exceptional opportunity for Hilton and another step towards our goal of becoming the global protein partner of choice…This acquisition will help Hilton take our offer into new markets and to new global customers for the first time.”

In September, Hilton acquired the remaining 50% of its joint venture partner Dalco Food.