Financial Restructuring at Findus Group
April 12
16:01
2011
Findus Group, one of the leading frozen food businesses in Europe with sales over Eur1.3b, is reported to be renegotiating its covenants with its lenders in order to gain greater financial flexibility for funding expansion. Indeed, some industry sources suggest that Findus is attempting to assemble a Eur1 billion war-chest for funding future acquisitions.
The food group, which is controlled by private equity firm Lion Capital, holds market leading positions in frozen foods in France, Sweden, Norway, and Finland and a market leading position in frozen and chilled seafood in the UK. Findus Group operates across many categories including ready meals, seafood, vegetables and potatoes.
