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In a strategic shakeup of its digital operations, Hilton Food Group PLC announced Tuesday the sale of a significant stake in its supplier management tech platform, Foods Connected, to the Apax Global Impact Fund in a £22 million ($30 million) deal.

The FTSE 250-listed food supplier said it would retain a 26% shareholding in the Northern Ireland-based tech firm after the transaction, which is still subject to regulatory approvals. The specific regulatory bodies involved were not disclosed.

Modernizing an Industry Still Drenched in Paper and Spreadsheets

Foods Connected, headquartered in Londonderry, Northern Ireland, is a cloud-based software solution designed to overhaul how food supply chains are managed. The platform integrates product lifecycle management, procurement systems, and quality control into one centralized digital solution — a leap forward for an industry still riddled with outdated manual tools.

“Many food businesses still use outdated tools like spreadsheets and paper, creating a clear opportunity for Foods Connected to modernize operations,” said Edward Donkor, partner at Apax Global Impact.

With global supply chains facing increasing complexity and transparency demands, Foods Connected aims to be the neural network that binds quality assurance to logistical precision across the food industry.

Hilton Food Bets on Digital While Holding a Strategic Minority

While selling off the majority of its stake, Hilton Food Group isn’t letting go entirely. By retaining a 26% minority interest, the company signals its belief in the long-term strategic value of Foods Connected — possibly hedging its bet on the ongoing digital transformation of the food supply industry.

Hilton has been investing in innovation while diversifying its portfolio. Known for supplying meat, seafood, and plant-based meals to retailers, it operates in over 20 international markets across Europe, Asia-Pacific, and North America.

Apax Positions for Impact-Driven Growth

The deal marks a notable move for the Apax Global Impact Fund, which focuses on high-growth companies driving measurable social and environmental impact. With Foods Connected offering efficiency gains, food safety enhancements, and reduced waste across supply chains, the fund appears to be betting on both profit and purpose.

Apax’s entry could inject new capital and expertise into scaling Foods Connected's platform globally — especially in regions still reliant on fragmented, analog systems.

A Digital Future for Food?

The transaction aligns with a broader trend across the food industry to digitize operations in the face of rising regulatory scrutiny, supply volatility, and sustainability goals. With this stake sale, Hilton Food may be signaling it’s ready to collaborate with innovation leaders rather than build all tech capabilities in-house.

Pending regulatory clearance, the deal could close in the coming months, setting the stage for Foods Connected’s next phase of growth — and possibly making spreadsheets a relic of the past for the food supply chain.