©Findus Switzerland
Nomad Foods has agreed to acquire Findus Switzerland from Froneri, as well as intellectual property from an affiliate of Nestlé, in a deal worth approximately €110 million.
Nomad Foods already owns and operates the Findus brand across several European markets, including Italy, France, Spain, Sweden, Norway, Finland and Denmark.
The acquisition will unify the Findus brand under Nomad Foods’ ownership, and expand the company’s geographic reach into Switzerland.
Findus is one of the leading frozen food brands in Switzerland, with a portfolio of value-added frozen products across categories including fish, vegetables and ready meals.
In a statement, Nomad Foods claimed that the purchase would give the company access to “an attractive frozen food market”, providing an extension for its Findus product offering and brand family with an “attractive entry point” for the Green Cuisine range of plant-based meat alternatives.
The transaction is expected to be completed in early 2021, subject to regulatory approval.
Stéfan Descheemaeker, Nomad Foods’ CEO said: “We are thrilled to announce the acquisition of Findus Switzerland, a brand and market which closely complement our existing portfolio.
“By unifying the Findus brand under Nomad Foods’ ownership and extending our geographic reach into Switzerland, we believe we have multiple levers for long-term value creation. We look forward to welcoming the Findus Switzerland team into our organisation.”
Froneri CEO Ibrahim Najafi added: “With Nomad, we have found the perfect home for our Swiss Frozen Foods business given its extensive sector experience and portfolio of leading brands.”
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