Nomad Holdings Limited has completed its acquisition of European frozen food company Iglo Foods Holdings Limited - home of Birds Eye - for approximately €2.6 billion.

Nomad has acquired Iglo

Nomad has acquired Iglo

With the closing of this transaction, Nomad has been renamed Nomad Foods Limited.

Stéfan Descheemaeker has been appointed as chief executive officer of Nomad and Iglo Group, effective immediately. Mr Descheemaeker brings a strong background in food retailing, consumer goods, and corporate strategy to the position. He has also been appointed to the company’s board of directors. In addition, Paul Kenyon, Iglo Group’s chief financial officer, has been appointed chief financial officer of Nomad and also appointed to board.

Noam Gottesman, Nomad’s co-founder and co-chairman, said, “The completion of this acquisition marks the start of Nomad’s growth story. Through Iglo Group, Nomad has gained an established presence in Europe’s fragmented frozen foods space.”

Stéfan Descheemaeker, Nomad’s newly-appointed CEO, said “I am excited to embark on this journey. There are abundant organic and acquisitive growth opportunities available within the consumer foods space and I look forward to working with both the Nomad and Iglo Group teams in order to realise new levels of success.”

With the closing of this transaction, Nomad has changed the composition of its board of directors. Noam Gottesman and Martin E. Franklin, Nomad’s co-founders, will serve as non-executive chairmen. Lord Myners of Truro CBE and Alun Cathcart will continue to serve as non-executive directors. Additionally, Stéfan Descheemaeker, Paul Kenyon, Elio Leoni Sceti (Iglo Group’s outgoing CEO), John Coyle (partner at Permira Advisers LLC), Brian Welch (partner at Pershing Square Capital Management), and James E. Lillie (CEO of Jarden Corporation) have been appointed to the board as non-executive directors. Non-founder director Guy Yamen has resigned his position from the board.

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