Partnership with international leader in the area of meat packing services

Sonae MC, the food retail unit within Sonae, and the Hilton Food Group, an international retail meat packing company, have celebrated a joint venture agreement to develop the value proposition of bovine, ovine, caprine and swine products at Sonae MC stores, in Portugal.

The partnership will be operated through SOHI Meat Solutions - Distribuição de Carnes, S.A. ('SOHI'), as a result of the successful pilot project carried out for six months at the Meat Processing Centre of Sonae MC, in Santarém. This partnership will allow Continente to perfect the quality of the products offered to consumers, leading innovation in this sector in Portugal and increasing value creation in the meat department, all while strengthening the commitment to support the sustainable development of national production. Under this agreement, Sonae MC and Hilton Food will work together towards the optimization and development of the Meat Processing Centre, a unit that is currently responsible for a weekly supply of more than 1,000 tons of meat to Continente stores across Portugal.

Eunice Silva, director of the Sonae MC Group, says: 'Sonae MC is permanently looking to offer its clients the best products and solutions in the market. Thus, we are pleased that the partnership has progressed to a full joint venture agreement in Portugal, which will enable us to strengthen the leadership position of Continente further in the development of innovation and the sustainable promotion of the agro-food business in Portugal.'

Robert Watson, CEO of the Hilton Food Group, states: 'We are very pleased that this exciting growth opportunity has advanced to a Joint Venture with Sonae MC. Our progress in Portugal demonstrates further the strength of Hilton's flexible and versatile business model, enabling us to meet the local requirements of our customers in their territories.

This now extends our presence to 15 countries, and we will continue to look for further opportunities for geographic expansion.'

Sonae SGPS SA published this content on 04 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 January 2017 11:17:06 UTC.

Original documenthttp://www.sonae.pt/en/media/press-releases/sonae-mc-and-hilton-food-create-joint-venture/

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