Multi-protein business Hilton Food Group has agreed to acquire the remaining 50% of its joint venture partner Dalco Food.

Based in Oss, the Netherlands, Dalco Food is a manufacturer of vegan and vegetarian products. The company offers product development and co-creation services, and supplies protein products to the retail and foodservice channels, and the wider food industry.

Hilton became a 50% shareholder in Dalco in 2019 and aims to strengthen its position in the plant-based and vegetarian market through its acquisition of the remaining 50% stake in the business.

UK-headquartered Hilton is looking both to further diversify and to strengthen its protein offering within this fast-growing market, and the agreement will see the company commit ongoing investment to expand Dalco’s capacity and portfolio, and to develop new plant-based products.

“This is the next natural step in our ambitions to broaden and diversify Hilton’s multi-protein offer,” said Hilton CEO, Philip Heffer.

“The completion of this transaction will further strengthen Hilton’s position within the vegan and vegetarian market, at a time when our customers are increasingly seeking out innovative, high-quality vegetarian products at scale.”

Marian Wagemakers, CEO of Dalco, added: “Hilton has been a supportive joint venture partner of Dalco, and we are pleased to now become a full part of the Hilton Food Group”.

“This transaction will enable continued investment in the business and it will underpin the next stage of Dalco’s growth. As a management team, we look forward to achieving further growth with this business and being part of its continued success.”

Completion of the transaction is subject to approval by the Dutch competition authority. The financial terms of the deal have not been disclosed.

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