By Michael Susin
Hilton Food said it entered into a joint venture with National Agricultural Development Co. in Saudi Arabia, expanding its reach into the Middle East.
The U.K. food company on Thursday said it would hold a 49% stake in the new joint venture and contribute around 6.5 million pounds ($8.4 million), or 49% of the initial investment.
The money will be used to build a facility where Hilton Foods will focus on the meat processing and packaging while Nadec will supply its red meat products.
The joint venture is expected to start its operations by the second half of 2026 and the long-term agreement will have an initial period of 10 years, it said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
March 06, 2025 02:46 ET (07:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。