The acquired operations include approximately 1,500 employees and six manufacturing facilities. It extends Nomad Foods position as the largest frozen food company in Western Europe, with leading market share in nine countries.<\/p>\n
St\u00e9fan Descheemaeker, Nomad’s CEO, said: \u201cThe complementary nature of our footprint and the strength of our combined brands across Europe significantly enhance Nomad’s scale and competitive offering.\u201d<\/p>\n
\u201cThe Birdseye, Iglo, and Findus brands have played key roles in defining the frozen food category over the past decades, and together will be better positioned to continue bringing fresh and ‘better-for-you’ meal options to consumers across Europe,\u201d he added.<\/p>\n
The sale is estimated to be in the region of \u00a3500m and will reunite Nomad\u2019s existing Findus\u2019 branded business in Italy with the brand to strengthen its presence across Europe.<\/p>\n
Nomad employs over 4,300 people in 15 countries and has ten factories.<\/p>\n
Noam Gottesman and Martin E. Franklin, Nomad’s co-founders and co-chairmen, said: “The closing of this acquisition demonstrates our ability to successfully execute against our defined strategy.\u201d<\/p>\n
\u201cBringing these businesses together will yield substantial synergies that we intend to re-invest in our ongoing growth and expansion.\u201d<\/p>\n
\u201cWe work to build a best-in-class global consumer foods company, we are encouraged by the opportunity set and remain focused on creating value for all of our stakeholders,” the co-founders concluded.<\/p>\n
Findus Group\u2019s remaining operating company, Young\u2019s Seafood Limited UK, will continue to trade separately and will continue to be backed by its group of investors. The company will trade under the new name Young\u2019s Seafood International Holdings Ltd.<\/p>\n
James Hill, chief executive of Young\u2019s Seafood International said: \u201cToday\u2019s sale transaction involving Findus marks a significant, positive milestone for the European food industry and its principal stakeholders.\u201d<\/p>\n
\u201cYoung\u2019s Seafood Limited is already the UK\u2019s leading fish processor and we shall redouble our drive for improvement, focussing on our customers, our market share and our processing efficiency,\u201d Mr Hill concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"
Findus Group has announced the completed sale of its Findus brand rights and continental European business to Nomad Foods.<\/p>\n","protected":false},"author":2,"featured_media":9382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"sponsor":[],"class_list":["post-9381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/posts\/9381","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=9381"}],"version-history":[{"count":1,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/posts\/9381\/revisions"}],"predecessor-version":[{"id":9383,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/posts\/9381\/revisions\/9383"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/media\/9382"}],"wp:attachment":[{"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/media?parent=9381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/categories?post=9381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/tags?post=9381"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.worldfishing.net\/icefish-conference\/wp-json\/wp\/v2\/sponsor?post=9381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}