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Hilton to acquire Seachill for £80.8m

By BFN News | 07:15 AM | Wednesday 18 October, 2017

Hilton Food Group's wholly owned subsidiary, Hilton Foods Ltd, has agreed to acquire Icelandic Group UK Limited (Seachill), a leading chilled UK fish processor £80.8m in cash. The group also announced its intention to conduct a non-pre-emptive underwritten cash placing to raise gross proceeds of £55.9m to part-fund the acquisition through the issue of new ordinary shares at an indicative price per share of 760p apiece. The group described the proposed acquisition as strategically and financially compelling which gave it an attractive growth opportunity and entry into the processing and supply of fish in the UK. Chief executive Robert Watson said: 'The processing and supplying of fish and seafood into the UK is an attractive and growing market and one where we see considerable opportunities to build Hilton's business. 'Our initial discussions with key customers support this view and we look forward to broadening our offering to both our UK and overseas customers alongside our existing meat business.' Story provided by

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