Nomad Foods announced on January 4 that it has completed its purchase of Findus Switzerland from Froneri International Ltd., along with certain intellectual property from an affiliate of Nestlé S.A. The price paid was approximately €110 million in cash.
Stéfan Descheemaeker, chief executive officer of Feltham, England-headquartered Nomad Foods, said the transaction reinforces the company’s position as Europe’s leading retail frozen food producer and marketer. In addition to Findus, its other major retail brands are Birds Eye, iglo, Aunt Bessie’s and Goodfella’s.
Findus is the No. 1 frozen food player in Switzerland with a portfolio of value-added products across categories including fish, vegetables and ready meals. The acquisition expands Nomad Foods’ into a new and sizable market, providing a natural extension for its Findus product offering and brand family with an attractive entry point for Green Cuisine. Furthermore, the transaction unifies Nomad’s ownership of the iconic Findus brand across Europe, where it has been selling products in Italy, France, Spain, Sweden, Norway, Finland and Denmark for many years.
