Nomad Foods Ltd., London, entered into an agreement to acquire Green Isle Foods Ltd., an Ireland-based subsidiary of Boparan Holdings Ltd., England, and its unit, Goodfella’s Pizza.
Goodfella’s Pizza manufactures and distributes a portfolio of branded and private label frozen pizzas in the United Kingdom and Ireland. The acquisition also includes the San Marco brand and two frozen pizza manufacturing facilities, which provide a foundation for future expansion in the category.
“The acquisition of Goodfella’s Pizza comes at an exciting time for our company,” says Stefan Descheemaeker, chief executive officer of Nomad Foods. “2017 was a banner year, as investments in our core portfolio translated into strong organic revenue growth. We exited the year on a high note, with our updated guidance reflecting better than expected top and bottom line performance during the fourth quarter. Goodfella’s Pizza creates a new and exciting growth avenue into frozen pizza, a strategic category that is both sizable and complementary. We have a strong foundation in place, and are well positioned to create shareholder value, as we apply our proven toolkit of capabilities to Goodfella’s Pizza and further develop our portfolio of iconic and market leading brands. We are excited to welcome the Goodfella’s Pizza employees to the Nomad family.”
“We are pleased to announce the acquisition of Goodfella’s Pizza,” adds Noam Gottesman, Nomad Foods’ co-chairman and founder. “Over the past two years, Stefan and the team have successfully integrated two of Europe’s largest frozen food businesses while strengthening the core product offering. With strong organic revenue growth momentum, the time is right to expand into new strategic categories such as pizza, which offer adjacent avenues for further growth and synergies. The Goodfella’s Pizza brands and team broaden our product offering and customer reach, and solidify our market leadership within the United Kingdom and Ireland. We are pleased to welcome Goodfella’s Pizza to the Nomad Foods portfolio.”