Sector News

Birds Eye owner Nomad in talks over Findus deal

June 4, 2015
Consumer Packaged Goods
The owner of Birds Eye frozen foods is in talks with Findus to buy its continental European business and the Findus brand.
 
Nomad Holdings, which only completed the purchase of Birds Eye owner Iglo Foods for $2.8bn on Monday, said talks with Findus were at an early stage and there was no guarantee a deal would be done. Any agreement is not expected to include the Findus UK operations.
 
The move would fit in with Nomad’s acquisitive plans. On Monday its chief executive Stefan Descheemaeker told Reuters the company was looking for more deals in the frozen foods sector:
 
“It’s a fragmented industry. We know there is value in being a consolidator.”
 
Shares in Nomad, which was founded last year by Martin Franklin and Noam Gottesman, have been suspended at ¢11.885 since April when it unveiled the Iglo deal.
 
Meanwhile it has also emerged this week that billionaire investor Bill Ackman’s hedge fund Pershing Square owns a 22% stake in Nomad.
 
By Nick Fletcher
 
Source: The Guardian

comments closed

Related News

April 20, 2024

Tereos opens new innovation centre for EU customers

Consumer Packaged Goods

The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.

April 20, 2024

Glanbia to buy US flavour platform in $300m deal

Consumer Packaged Goods

Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.

April 20, 2024

Godiva names former Nike executive as president to boost sales

Consumer Packaged Goods

Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”

How can we help you?

We're easy to reach