Nomad Foods completes the acquisition of Findus Switzerland
110 million Euros to the Froneri International group
Nomad Foods, a frozen food company, completes the acquisition of Findus Switzerland, belonging to the Froneri International group, for 110 million euros. It also acquired the intellectual rights of the brand, which to date had remained in the hands of the subsidiary Nestlé (see EFA News article of 09-11-20).
Stéfan Descheemaeker, CEO of Nomad Foods, assures that “the acquisition of Findus Switzerland strengthens Nomad's position as a European leader in the frozen food sector. It also demonstrates our ability to create value for investors, through an adequate dynamic of organic growth and a gradual deployment of capital”. The executive continues: "We are delighted to welcome the Findus Switzerland team to our company and look forward to replicating the growth model with which we have achieved the solid performance in our current portfolio".
Nomad Foods operates under the Findus brand in Italy, France, Spain, Sweden, Norway, Finland, Denmark and now Switzerland. Findus is among the leading frozen food brands in Switzerland, with a variety of quality products spanning various categories, including fish, vegetables and ready meals. The acquisition expands Nomad Foods' geographic reach in Switzerland to a new, high-volume market, providing a natural expansion of the brand's product offering; an interesting starting point for the "Green Cuisine" line.
EFA News - European Food Agency