Nomad Foods has acquired Findus Switzerland from Froneri International Ltd, as well as certain intellectual property from an affiliate of Nestlé S.A., for a purchase price of approximately €110 million.
The acquisition expands Nomad Foods’ reach into Switzerland and unifies Nomad Foods’ ownership of the Findus brand across Europe, where it currently trades under the brand in Italy, France, Spain, Sweden, Norway, Finland, Denmark.
This move is a continuation of Nomad Food's policy of acquiring key brands within the frozen food market, such as UK frozen food firm Aunt Bessie.
Commenting on the transaction, Stéfan Descheemaeker, Nomad Foods’ chief executive officer said, “the acquisition of Findus Switzerland reinforces Nomad’s position as Europe’s leading frozen food company".
Findus has a strong share in the frozen food market in Switzerland with a portfolio of frozen products across categories including fish, vegetables, and ready meals.
Nomad Foods is looking to replicate the growth model that has delivered a "strong performance" across its existing portfolio with the addition of Findus Switzerland.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.