Since Nomad Holdings announced it had acquired European frozen food firm Iglo Group, the market has been waiting for the investment firm's next deal to help its ambition of building a portfolio of "best-in-class" FMCG brands. Nomad confirmed yesterday (4 June) it is in "exclusive" negotiations over the acquisition of assets of Findus Group. The acquisition would strengthen Iglo's hand in the European frozen food sector but, in order to seal the deal, Nomad could have to pay the piper, Katy Askew suggests.