New Iglo owner also wants to acquire Findus | RetailDetail

New Iglo owner also wants to acquire Findus

New Iglo owner also wants to acquire Findus

Nomand Holdings recently acquired Iglo Foods and is currently in talks to acquire Findus Europe's brands as well. Findus Europe produces frozen meals and was recently implicated in the horse meat scandal.

Large market share in the United Kingdom

Nomad has admitted, via a press release, it is talking to Findus, but added those talks are only in a preliminary stage and that it is not certain a deal will come out of it. If the acquisition is indeed finalized, Nomad could get a 45 % market share in the United Kingdom, which may cause problems with the antitrust authorities.

 

The company acquired Iglo in April for 2.6 billion euro and if it manages to get Findus as well, it will have pretty much every type of frozen food in its product range. Nomad Holdings' founders, entrepreneurs Noam Gottesman and Martin Franklin, aim to create a large consumer brand out of Nomad.

 

Findus, founded in Sweden in 1945, was sold to Swiss Nestlé in the sixties, which in turn sold the European (excluding Switzerland) branch in 2000.  Findus' Italian branch already belonged to Iglo.

Questions or comments? Please feel free to contact the editors


Adidas wants to strengthen bond with small retailers

15/07/2018

German sportswear giant Adidas says it wants to strengthen its bond with small-scale retailers after they claimed Adidas is too aggressive in pushing its web shop, especially as they feel the brand is favouring large international chains as well.

Several candidates to take over Men at Work

12/07/2018

There are several takeover candidates for both the Dutch and the Belgian stores of the bankrupt clothing chain Men at work. The curator is confident an agreement should be reached today in Belgium.

Burberry sales increases thanks to new strategy

11/07/2018

The new strategy of the British fashion brand Burberry starts to render: the company had a 3% increase of revenue in their own stores last quarter. In total, Burberry has now a revenue of 479 million pounds (520 million euros).

FNG moves to Brussels stock exchange

06/07/2018

Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.

Athleteshop ends its run

02/07/2018

Dutch sports web shop Athleteshop has filed for bankruptcy, after an abysmal year in which strings of complaints led to all sorts of problems. Social media and review sites were flooded with customers complaining about late deliveries.

Alibaba goes Turkish with stake in Trendyol

29/06/2018

Alibaba is the new strategic partner of Trendyol, one of the best-known e-commerce companies in Turkey. With this partnership, the Chinese retailgroup strengthens its presence in Europe.