Apax Global Impact Fund to make strategic investment in Foods Connected – accelerating future growth

15th July 2025

The Apax Global Impact Fund, advised by Apax Partners LLP (“Apax”), has entered into an agreement to make a strategic investment in Foods Connected, the supplier management platform of Hilton Food Group plc (“Hilton Foods), a leading international multi-protein food business.

As part of the transaction, Hilton Foods will receive cash consideration of £22m for the sale of its shares. Upon completion, Hilton Foods will hold 26% of the business. 

This investment builds on Foods Connected’s success to date, bringing in additional capital and Apax’s technology expertise to accelerate its next phase of growth.

The Board of Hilton believes that partnering with an experienced technology investor will accelerate growth in Foods Connected, which serves as an enabler for the Group’s end-to-end supply chain management approach. Foods Connected’s bespoke technology provides real-time data to optimise supply chains and enhance cost efficiency, quality standards, risk visibility and sustainability.

The Apax Global Impact Fund has a strong track record of supporting software and services businesses tackling key social and environmental challenges, and sees Foods Connected as well-positioned to scale globally while advancing safer, more transparent, and sustainable food supply chains.

Edward Donkor, Partner, Apax Global Impact, said: “We’ve been closely following the food safety sector worldwide, and Foods Connected stood out as a strong platform to invest behind. Many food businesses still use outdated tools like spreadsheets and paper, creating a clear opportunity for Foods Connected to modernise operations. We’re excited to partner with Hilton Foods and Roger McCracken, Co-founder and CEO at Foods Connected, to accelerate the business’s expansion. Together, we’ll invest in new markets, strengthen sales and marketing, pursue strategic acquisitions, and increase value for existing customers through expanded capabilities and resources. We look forward to the journey ahead and the impact we can achieve together.”

Roger McCracken, Co-founder and CEO of Foods Connected, said: “We’re thrilled to be partnering with Apax Global Impact on this next phase of growth for Foods Connected. Their expertise in scaling technology businesses will be key to accelerating our global expansion and enhancing what we deliver for customers. We’re also grateful to Hilton Foods for their incredible support over the past eight years, and we’re pleased they’ll remain a key partner on our journey as we continue to scale and strengthen the business with Apax Global Impact’s backing.”

Steve Murrells, CEO of Hilton Foods, added: We’re delighted to be partnering with Apax Global Impact team, who have the right experience, capabilities and infrastructure to help us realise, at pace, the full scale of the opportunities ahead for Foods Connected.  

This partnership positions Foods Connected to deliver greater value to customers and remains central to our strategy. This strategic investment strengthens our ability to meet clients' evolving needs, underscores the platform we've built and enables us to sharpen our focus on our core food business.  I look forward to working with the Apax team as we strengthen and grow Foods Connected, for the benefit of Hilton Foods and our international customer base.”

The transaction is subject to customary regulatory approvals.