17/05/2007 The London Stock Exchange is delighted to welcome Hilton Food Group to the Main Market.
17 May 2007
The London Stock Exchange is delighted to welcome Hilton Food Group to the Main Market.
Hilton Food Group plc is a leading specialist meat-packing business supplying major international food retailers from modern, efficient facilities in the UK, the Netherlands, Republic of Ireland, Sweden and Poland.
Established in 1994, Hilton has grown to become one of the largest dedicated packers of red meat in Europe. Hilton’s core business is the processing, preparing, packaging and delivering of fresh and value-added beef, lamb and pork with high standards of traceability, hygiene, food safety and shelf life. The Group’s continuing growth has been achieved principally by geographical expansion, product range extensions and the underlying growth in the market achieved by Hilton’s retail customers.
Following strong interest from institutional and other investors, the offer price has been set at 150p per Share. The placing of 34,828,334 Shares represents approximately 50 per cent of the company’s issued ordinary share capital, implying an offer size of GBP52.2 million with a market capitalisation of approximately GBP104.5 million.
Panmure Gordon is acting as sponsor, financial adviser and broker.
Commenting on today’s placing, Robert Watson, Chief Executive of Hilton Food Group plc, said:
“We are extremely pleased with the response from institutional investors who have recognised the potential for further growth in our business both in the UK & Europe. This listing will allow Hilton to develop further our specialist meat packing business.”