FDBusiness.com

Nomad Foods is Back on the Acquisitions Trail

 Breaking News
  • Orkla Acquires Leading Czech Frozen Vegetable Producer Through its wholly-owned subsidiary Hamé, Nordic food group Orkla has purchased Agrimex, a leading frozen vegetable producer in the Czech Republic. Hamé is a leading branded food company in the Czech Republic and Slovakia, and holds strong positions in the liver paté, ready meals, ketchup, jam, baby food and tinned vegetable categories. Through the acquisition [...]...
  • Change of Leadership at Alpro Bernard Deryckere, current CEO of Alpro who has been leading the company for the last 16 years, is stepping down and handing over management responsibility to Sven Lamote. Sven Lamote will be tasked to prepare the Alpro plant-based business for its next stage of growth as the company’s new General Manager, building on Bernard Deryckere’s [...]...
  • Ornua Expands into South Korea With Launch of Kerrygold Ornua, Ireland’s largest exporter of Irish dairy products, has announced a major product expansion into the South Korean market with the launch of Kerrygold butter. Kerrygold will be sold through major Korean retailers. Kerrygold dairy products, made from the milk of grass-fed cows, will bring a unique new offering to South Korean consumers. Korean consumers place a high [...]...
  • East Meets West – Taura Inspires Global Flavour Combinations at FIE Real fruit and vegetable pieces are the perfect way to combine eastern and western flavours, Taura Natural Ingredients will demonstrate at Food Ingredients Europe. With consumers seeking new taste sensations, and eastern flavours particularly sought after, Taura – part of Frutarom – offers a range of ways to help manufacturers satisfy adventurous palates. The company’s unique [...]...
  • Pots Showcase Dairy Delights Regional French dairy producer Duo Lozère has selected RPC Bebo Bouxwiller to supply the packaging for the company’s high quality organic yoghurts and fromage blanc. The stylish 125cc thermoformed polypropylene pots are lightweight and easy to handle, combining consumer convenience and ease of use with effective product protection and presentation. Newly-designed graphics, offset printed in a [...]...

Nomad Foods is Back on the Acquisitions Trail

Nomad Foods is Back on the Acquisitions Trail
May 22
09:30 2017

Nomad Foods, Europe’s leading frozen foods company which was created following a series of major acquisition deals, is reported to have a €600 million war-chest at its disposal to fund further deals.

Nomad Holdings, a publicly listed acquisition company, initially purchased Iglo Foods, Europe’s largest frozen food business with iconic brands including Birds Eye in the UK and Ireland, Iglo in Germany and other continental European markets, and Findus in Italy, for €2.6 billion from private equity group Permira. The business subsequently changed its name to Nomad Foods.

Stefan Descheemaeker, chief executive of Nomad Foods.

Nomad Foods further extended its European footprint with the acquisition of Findus Group’s continental European businesses in Sweden, Norway, Finland, Denmark, France, Spain and Belgium for £500 million. The remaining part of the Findus Group, including Young’s Seafood in the UK, was not part of the deal.

The acquisitions created a pan-European food business with operations in 17 countries. Nomad Foods reported revenue of €1.93 billion and after tax profits of €36.4 million for 2016.

Building on its anchor investment in Iglo Group, completed in June 2015, Nomad Foods’ goal is to develop a global consumer foods company. In addition to pursuing organic growth initiatives, Nomad Foods is also seeking strategic acquisitions to build a portfolio of best-in-class food companies and brands within existing and new categories.

Stefan Descheemaeker, chief executive of Nomad Foods, says: “The first two years were fully dedicated to making sure our fundamentals were sound. We’re starting to get there.”

Nomad Foods is expected to initially target complementary frozen food brands in Europe. “After that, the company might look at European non-frozen foods or non-European foods,” adds Stefan Descheemaeker.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements