Hilton signs long-term supply deal with Tesco Central Europe
In addition, Hilton also landed a 6 million euros deal with Tesco to produce fresh food. The five-year agreement requires Hilton to build a factory in Poland to produce items for Tesco, such as sandwiches, pizza, ready meals, and soups. "This requires an investment of nearly 6 million euros in plant and equipment, as well as the construction of the factory itself for which we are planning a sale and leaseback," the company said.
Production at Hilton's new factory is planned to start in the first quarter of 2019.
"We have a long and successful history of working with Tesco, one of the world’s biggest retailers. This agreement represents an opportunity to enter a growing food segment of the market," said Hilton Chief Executive, Robert Watson OBE. "We look forward to seeing the positive effect our tried and tested business model will have on this relationship, which will be supported by our flexible and versatile approach to meeting local requirements. We continue to look for further opportunities for geographic expansion."
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