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


Richemont wants to gain full control over Yoox Net-a-Porter

22/01/2018

Swiss luxury group Richemont proposed to obtain a majority stake in online retailer Yoox Net-a-Porter. The move is a way to implement its online strategy faster.

Decent profit for The Sting in fiscal year 2016

22/01/2018

Fashion chain The Sting generated a profit once more in 2016, after it had to deal with a more than 5 million euro loss in the year before. Affiliate brand Costes also generated a profit in its fiscal year 2016.

Lower turnover and new CEO for Geox

19/01/2018

Italian shoe brand Geox’ turnover dropped slightly in the past fiscal year. It also replaced former CEO Gregorio Borgo with Matteo Mascazzini, who came from Italian fashion brand Gucci.

Slower growth for Primark

18/01/2018

Irish fashion chain Primark has seen its first quarter turnover grow 7 % at level exchange rates and 9 % taking the fluctuations into account. Analysts however had expected faster growth.

Zalando's profit is slightly below expectations

17/01/2018

German fashion web shop Zalando has grown nearly a quarter in the past fiscal year and its company profit also nearly grew 5 %, although the latter was slightly below its own expectations.

Record turnover for Yoox Net-a-Porter in 2017

16/01/2018

Online retailer Yoox Net-a-Porter (YNAP) achieved a record turnover in 2017, surpassing two billion euro. That is a growth of more than 10 % compared to the year before, when it just missed that milestone.

Back to top