Frozen food company iglo posted a sales growth of 15.3% in Germany last year, equating to €466 million (Nielsen figures), the company announced on Monday.
The company said that the reason for the boost was its performance in vegetables, Blubb spinach, and fish (in particular, the promotion of fish Friday by brand mascot Käpt'n iglo). The overall frozen food market in Germany grew by only 1.7%, in comparison.
The company, which was taken over by Nomad Foods Ltd. in 2015, said that it tackled a recent downward trend by implementing 'strategy changes' to expand its market share.
Nomad Foods Ltd.
The Nomad Foods group is present in 13 European countries with its iglo, Findus and Birdseye brands. It saw an organic growth of 4% in the 2017 financial year. Net sales reached approximately €2 billion, with an EBITDA margin of +16.8%.
Its multi-million euro investment in a vegetable factory in Münsterland caused its production capacity to nearly double, the company said. It has a second production site in Germany, the frozen fish factory in Bremerhaven. The group currently employs around 1,450 staff in the country.
In April, the company completed the acquisition of Green Isle Foods, which owns the Goodfellas pizza brand, for £200 million in cash.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: European Supermarket Magazine.