Iglo sold for 2.6 billion euro

Iglo sold for 2.6 billion euro

Iglo's current owner, Permira, has accepted a take-over bid from investment fund Nomad Holdings. Most of the shares in the company will be sold for 2.6 billion euro, but Permira will still hold a 9 % stake in the frozen food manufacturer.

Worth up 50 % since 2006

Iglo became Permira's in 2006, when it bought the company that is mostly known for its fish sticks from British-Dutch Unilever for 1.8 billion euro. Iglo on the other hand bought its Italian competitor Findus from Unilever in 2010. The British group has a yearly turnover of 1.5 billion euro nowadays and its EBITDA last year reached 306 million euro. 

 

Entrepreneurs Martin E. Franklin and Noam Gottesman own Nomad Holdings, a company that attracted 500 million euro at its IPO last year. It announced its intention to acquire new businesses with that money and has now backed up that claim.

Tags: