Nomad eyeing Findus

Nomad eyeing Findus

Nomad Holdings, the investment vehicle that recently snapped up Iglo Group, confirmed it is in "exclusive" negotiations over a purchase of Findus Group's continental European assets.

In a statement this morning (3 June), Nomad said: "Nomad confirms that it is in exclusive early stage discussions with Findus [Group] to acquire its continental Europe business and the Findus brand."

The firm added there "can be no certainty that these discussions will result in a transaction" and noted that it will update the market "as appropriate".

Findus Group is owned by Lion Capital. It is the second-largest European frozen food group, behind Iglo, and is strong in markets where Iglo's presence is less well developed, such as Scandanavia, Spain and France.

When Nomad announced its acquisition of Iglo in April, the company said it "seeks to build a portfolio of best-in-class companies and brands". These moves, Nomad continued, will be achieved through Iglo's organic growth as well as M&A. "Nomad will pursue strategic and complementary acquisitions intended to enhance its consumer offering and deepen its market leadership," Nomad said.

A spokesperson for the group declined to comment further when contacted by just-food.

For more on the potential takeover targets that could pique Nomad's interest, check out our M&A Watch column. Click here for more.