Nomad Foods has completed the €225 million acquisition of Green Isle Foods, (Goodfella’s Pizza) from Boparan Holdings subsidiary 2 Sisters Food Group.
Goodfella’s Pizza manufactures and sells and sells frozen pizzas for the UK and Irish markets, and its Goodfella’s brand is one of the market leaders in the UK’s frozen pizza category.
This acquisition strengthens Nomad’s position in the UK’s frozen food sector, as the company’s portfolio of frozen food brands already includes the Birds Eye, Findus and Iglo brands.
As well as the Goodfella’s brand, Nomad Foods will acquire the San Marco brand and two frozen pizza manufacturing facilities, which the company claims will “provide a foundation for future expansion in the category.”
Nomad Foods’ CEO Stefan Descheemaeker said in May 2017 that Nomad Foods had a €600 million acquisitions fund and that the company would seek to expand its portfolio of businesses.
Descheemaeker said: “Goodfella’s represents an important step in expanding our share of the frozen food category in Western Europe.
The transaction is expected to be immediately accretive to earnings and creates a complementary avenue of growth to our base business, which continues to gain market share.
“We are excited to welcome Goodfella’s to the Nomad Foods organization and look forward to driving shareholder value by combining our scale and commercial capabilities with their deep knowledge and expertise of the attractive frozen pizza category.”
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