Packaged foods company Nomad Foods Ltd., London, entered into an option agreement with LionGem Sweden 1 AB, a company backed by a group of investors, including Highbridge Principal Strategies, Lion Capital LLP and Sankaty Advisors, to acquire Sweden-based Findus Sverige AB and its subsidiaries. Through this transaction, Nomad will acquire Findus Group’s continental European businesses in Sweden, Norway, Finland, Denmark, France, Spain and Belgium. These operations include the intellectual property and commercialization rights to the Findus, Lutosa and La Cocinera brands in the respective markets. The remaining part of the Findus Group, including Young’s Seafood Ltd. in the UK, will not be impacted.
Through Iglo Foods Holdings Ltd. and its subsidiaries, Nomad currently operates Findus in Italy. This transaction creates a pan-European food business, enabling Findus to move forward as a more unified brand and support efforts to drive innovation, introduce new meal options and conduct marketing initiatives aimed at bringing more consumers across Europe to the frozen foods aisles.