Nomad Foods, the UK-based owner of brands such as Birds Eye and Aunt Bessie’s, has entered into an agreement to acquire Findus Switzerland from Froneri International and certain intellectual property from an affiliate of Nestlé in a deal worth approximately €110m (£97.9m).
Findus is the leading frozen food brand in Switzerland with a portfolio of products across categories including fish, vegetables and ready meals. Nomad stated that the acquisition will expand its geographic reach into Switzerland, a new and sizable market, providing a natural extension for its Findus product offering, with an attractive entry point for its plant-based Green Cuisine range.
The transaction will also unify Nomad Foods’ ownership of the Findus brand across Europe where it currently operates under the brand in Italy, France, Spain, Sweden, Norway, Finland and Denmark.
Commenting on the transaction, Stéfan Descheemaeker, Nomad Foods’ Chief Executive Officer said: “We are thrilled to announce the acquisition of Findus Switzerland, a brand and market which closely complement our existing portfolio. By unifying the Findus brand under Nomad Foods’ ownership and extending our geographic reach into Switzerland, we believe we have multiple levers for long-term value creation.”
Last week, Nomad Foods reported robust third-quarter figures as it continued to benefit from consumers keeping their freezers stocked up during the pandemic.
