UK meat business Hilton Food Group has formed a joint venture with The National Agricultural Development Company (NADEC) in Saudi Arabia.
In a London Stock Exchange filing, Hilton Food Group announced the “long-term collaboration”, initially set for ten years, which will combine its meat processing capabilities with NADEC’s local cattle operations.
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Hilton Food Group CEO Steve Murrells said: “This is a JV which takes Hilton Foods into the Middle East for the very first time.”
Under the alliance, the company plans to develop “state-of-the-art” facilities in Saudi Arabia, while NADEC will supply the JV and integrate red meat products into its distribution network.
Hilton Food Group will hold a 49% stake in the joint venture, contributing £6.5m ($8.4m) of the initial SAR60m ($16m) investment.
Murrells added: “Long-term, Hilton sees significant growth potential in Saudi Arabia and the Middle East, leveraging its expertise and scalable technology to support local partners in these emerging growth markets.”
NADEC aims to expand its red meat product range, transitioning from in-store butchery to packaged meat.
It supplies retailers and trade customers with local products under the NADEC brand and other brands in Saudi Arabia and neighbouring countries.
NADEC CEO Solaiman Al-Twaijri said: “This partnership represents a significant milestone for NADEC as we expand our portfolio to include high-quality packaged red meat products. This joint venture with Hilton Foods aligns perfectly with our mission to provide premium, locally produced options while driving economic growth and supporting national objectives.”
The JV is expected to begin operations in the second half of 2026. It is subject to regulatory approvals in Saudi Arabia and other customary conditions.
“Any material development will be announced in due course” Hilton Food Group said.
In its annual trading update, Hilton Foods highlighted the ongoing expansion of its long-term collaboration with US grocery giant Walmart.
The company also confirmed that Hilton Foods Canada remains on schedule to commence operations in early 2027.
As part of a multi-year supply agreement announced with Walmart in September 2023, Hilton Food Group is establishing its first North American manufacturing site, located in eastern Canada.
