The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

The Apax Global Impact Fund, managed by Apax Partners, has announced a strategic investment in Foods Connected, a supplier management platform under Hilton Food Group. The move aims to bolster Foods Connected’s growth trajectory and enhance its capabilities in the food supply chain.

Under the terms of the agreement, Hilton Foods will receive £22 million in cash for the sale of shares, retaining a 26% stake in Foods Connected post-transaction. This investment is poised to provide Foods Connected with additional capital and leverage Apax's technological expertise to propel its next growth phase.

Foods Connected specialises in enabling end-to-end supply chain management for the food industry, offering bespoke technology that delivers real-time data to optimise supply chains. This includes improvements in cost efficiency, quality standards, risk visibility and sustainability – key factors for modern food businesses increasingly focused on transparency and operational efficiency.

Edward Donkor, partner at Apax Global Impact, highlighted the potential of Foods Connected to modernise the food safety sector: “Many food businesses still rely on outdated tools like spreadsheets and paper, creating a clear opportunity for Foods Connected to modernise operations”.

Roger McCracken, Co-founder and CEO of Foods Connected, acknowledged the importance of Apax's support in scaling the business globally: “Their expertise in scaling technology businesses will be key to accelerating our global expansion and enhancing what we deliver for customers”. McCracken also recognised Hilton Foods' ongoing support, which has been instrumental over the past eight years.

Hilton Foods’ CEO, Steve Murrells, reiterated the strategic significance of this partnership. He noted that working with Apax Global Impact would enable Foods Connected to better meet customer needs and focus on its core food business. “This strategic investment strengthens our ability to meet clients' evolving needs and underscores the platform we've built,” he remarked.

The transaction is currently pending customary regulatory approvals, and both parties are optimistic about the future of Foods Connected as it seeks to enhance its offerings in a rapidly evolving market.