Hilton Food Group plc announced that it has signed a long-term supply agreement with Wal-Mart Canada Corp. (Walmart). Hilton Foods will open a new manufacturing facility in Eastern Canada to supply Walmart's Supercentres with a range of protein products, starting with beef, lamb, pork, seafood and moving into some added-value products.

The new Hilton Foods facility will provide robotised store order picking into Walmart's distribution centers. This partnership represents a significant step forward for both Walmart and Hilton Foods in fulfilling increasing consumer demand across Canada for high quality, good value and increasingly sustainable protein products. Through the partnership, Hilton Foods will apply its strong ESG credentials underpinned by its Sustainable Protein Plan to the North American market.

It is proposed that Hilton Foods' newly formed subsidiary, Hilton Foods Canada Inc, will finance the new food packing facilities, with commencement of production targeted for 2026. Hilton Foods intends to lease the production facility and its investment in plant and equipment will be debt funded with principal expenditure commencing in 2024 and continuing throughout 2025. The Group's leverage is expected to remain at comfortable levels during this investment phase.