Nomad Foods Acquires UK Frozen Food Firm Aunt Bessie's
The previously announced acquisition of UK-based frozen food company Aunt Bessie’s Ltd. by Nomad Foods Ltd. has been completed.
In a statement, Nomad Foods announced it has acquired the brand from William Jackson & Son Ltd. for a price of approximately €240 million. According to a press release, the acquisition will also include a production facility in Hull, England.
Stefab Descheemaeker, Nomad Foods’ CEO, commented, “The acquisition of Aunt Bessie’s exemplifies our dedication and progress towards transforming the frozen food category, both organically and through acquisitions.
"Aunt Bessie’s further develops our portfolio in the UK with its strong brand positioning and market leadership".
A majority of Aunt Bessie’s revenues come from holding a number-one market share position in frozen Yorkshire puddings and a number-two market share position in frozen potatoes.
Aunt Bessie’s revenue for the fiscal year ending April 2018 was approximately €123 million, and its adjusted EBITDA was approximately €23 million.
Additionally, the existing term loan facilities of the company have increased by €260 million through Nomad Foods’ acquisition.
UK-based Nomad Foods is a frozen foods company whose brands include Birds Eye, Findus, Iglo, and Goodfella’s pizza, which it acquired in April for £220 million.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Padideh Aghanoury. Click subscribe to sign up to ESM: European Supermarket Magazine.