Nomad Foods completes acquisition of Findus' continental European businesses
Packaged foods company Nomad Foods Ltd., London,completed its acquisition of Sweden-based Findus Sverige AB and its subsidiaries from LionGem Sweden 1 AB, which is backed by a group of investors, including Highbridge Principal Strategies, Lion Capital LLP and Sankaty Advisors. The acquisition includes Findus Group's continental European businesses in Sweden, Norway, Finland, Denmark, France, Spain and Belgium, as well as the intellectual property and commercialization rights to the Findus, Lutosa and La Cocinera brands in the respective markets. The acquired operations include approximately 1,500 employees and six manufacturing facilities.
Through this transaction, Nomad extends its position as what is said to be the largest frozen food company in Western Europe, with leading market share in nine countries (UK, France, Sweden, Germany, Italy, Austria, Belgium, Portugal and Spain). The acquisition reunites Nomad's existing Findus-branded business in Italy with the brand in other key geographies, strengthening overall presence across the European continent. Including the acquired Findus businesses, Nomad employs over 4,300 people in 15 countries, with 10 factories and a broad portfolio of product offerings. This scale and reach will help Nomad execute on its innovation strategies while using consumer insights to tailor its offering for local markets.