Bell Food Group has signed an agreement to buy the remaining 49% stake in Liechtenstein-based pizza-maker Hilcona Group from Toni Hilti Family Trust.

With this, Bell will become the sole owner of the Hilcona Group.

Hilcona has significantly expanded its productivity since the beginning of the partnership between Bell and THF in 2011.

The deal is subject to the approval of the relevant competition authorities, and transaction details have not yet been revealed.

"With this, Bell will become the sole owner of the Hilcona Group."

Meanwhile, Bell Food Group is investing €30m in the development of a new production plant for convenience products at Marchtrenk in Linz, Austria.

This investment will lead to creation of 100 jobs.

Construction will take place on a newly acquired piece of land, and the facility will be equipped with advanced technology and manufacture products for the Austrian market.

The firm expects to hold the ground-breaking ceremony in September and commission it in late next year.