Nomad will acquire Findus Group’s continental European businesses in Sweden, Norway, Finland, Denmark, France, Spain and Belgium. These operations include the intellectual property and commercialisation rights to the Findus, Lutosa, and La Cocinera brands in the respective markets. The remaining part of the Findus Group, including Young’s Seafood Limited in the UK, will remain under the ownership of the Seller.<\/p>\n
“This transaction is in line with our growth strategy, an exciting addition to the Nomad portfolio, and a significant milestone in reaching our goal of building a global consumer foods company,\u201d said St\u00e9fan Descheemaeker, CEO, Nomad.<\/p>\n
Nomad says the acquisition is expected to be immediately increase Nomad’s earnings with approximately \u20ac25m to \u20ac30m of annual synergies targeted over the next three years.<\/p>\n
Through Iglo Foods Holdings Limited and its subsidiaries, Nomad currently operates Findus in Italy and this transaction creates a pan-European food business and further reunites the brand across the continent. This will enable Findus to move forward as a more unified brand and will support efforts to drive innovation, introduce new meal options, and conduct marketing initiatives aimed at bringing more consumers across Europe to the frozen foods aisles.<\/p>\n
\u201cWhile the operations we are acquiring are strong, attractive assets on their own, combining them with our existing businesses creates a unique value proposition and unlocks new growth opportunities. The Findus name is well-loved and iconic across the European continent, and having the businesses under one umbrella brings together two talented, world-class teams, enabling us to share best practices and to elevate and evolve the brand as we bring an even greater choice of products to consumers,\u201d added Mr Descheemaeker.<\/p>\n
UBS Investment Bank and Credit Suisse acted as financial advisors and Greenberg Traurig acted as legal advisor to Nomad on the transaction. To finance this transaction, Nomad intends to use its existing cash and seek further debt funding from UBS, Credit Suisse and Barclays.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nomad Foods Limited is acquiring Findus Sverige AB and its subsidiaries in a deal worth approximately \u00a3500m \u2013 a move that will boost its continental European business.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"sponsor":[],"class_list":["post-6590","post","type-post","status-publish","format-standard","hentry","category-industry-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/posts\/6590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/comments?post=6590"}],"version-history":[{"count":0,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/posts\/6590\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/media?parent=6590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/categories?post=6590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/tags?post=6590"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/sponsor?post=6590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}