Nomad Foods acquires European Findus Group activities

Nomad Foods acquires European Findus Group activities

Iglo Group's owner, Nomad Foods, has also acquired Findus Group's European and Scandinavian activities, which instantly makes it the largest European frozen products company.

"Huge scale enlargement"

Thanks to the acquisition, Nomad is now the largest frozen products company in Belgium (where it is active with its Iglo and Lutosa brands), the United Kingdom, France, Sweden, Germany, Italy, Spain, Austria and Portugal.

 

Stéfan Descheemaeker, Nomad Foods CEO, explains: "The complementing nature of our footprint and the power of our combined brands in Europe will create a huge scale enlargement and add to Nomad Foods' competitive product range. Birds Eye, Iglo and Findus were key in creating the frozen food industry over the past few decades and our long-term goal is to grow Nomad Foods into a worldwide food corporation with brands that dominate their markets."

 

Nomad Foods paid some 500 million pounds (696 million euro) to acquire Findus Group, which in turns gives it access to 6 manufacturing plants and 1,500 employees. Nomad has 10 factories worldwide and employs 4,500 people.

Questions or comments? Please feel free to contact the editors


Zalando's growth once again surpasses 20 %

10/08/2017

German Zalando has achieved its 20 % growth target for the second quarter, but just barely. It still forecasts a 20 to 25 % growth for its full fiscal year.

Gucci files lawsuit against Forever 21

09/08/2017

Fashion label Gucci has decided to file a lawsuit against fashion chain Forever 21 in the United States. The case revolves around several pieces of clothing, all with a blue-red-blue or green-red-green ribbon. 

Ralph Lauren outperforms expectations

08/08/2017

Fashion label Ralph Lauren’s first quarter was a very good one, as it beat both analysts’ turnover and profit forecasts. It is quite a turnaround for a company that suffered a huge loss only a year ago.

Difficult first quarter for New Look

08/08/2017

British fashion chain New Look’s past quarter was disappointing with a 4 % turnover drop. Its adjusted EBITDA fared much worse, with a 35 % drop.

ING forced to pay Foot Locker compensation

07/08/2017

Dutch ING Bank will have to pay the Dutch and European Foot Locker branches 300,000 euro in damages. A court decided the fee after Foot Locker was scammed for 1.8 million euro in 2015.

Asics opens its largest store yet in London

04/08/2017

Sports brand Asics opened a new flagship store in London, which is also its largest store in the world. Located in Regent Street, the store will bring together its four labels for the first time ever.

Back to top