Nomad Foods Limited has confirmed that it will acquire the European arm of Findus for approximately £500 million.
The deal will see Nomad acquire Findus Group’s European businesses in Sweden, Norway, Finland, Denmark, France, Spain and Belgium.
Stéfan Descheemaeker, CEO of Nomad, said: "This transaction is in line with our growth strategy, an exciting addition to the Nomad portfolio, and a significant milestone in reaching our goal of building a global consumer foods company. While the operations we are acquiring are strong, attractive assets on their own, combining them with our existing businesses creates a unique value proposition and unlocks new growth opportunities.”
James Hill, chief executive of Findus Group, added: "This transaction represents a strategic milestone for Findus and is a positive development for the European food industry as a whole. The new group will be bigger, stronger, more efficient and more innovative than its component parts, offering significant benefits not only to consumers, but to all of our stakeholders."
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