Frozen food giant Findus Group has snapped up the Belgian retail business of Lutosa as part of the EU’s clearance of McCain Foods’ acquisition of the potato products supplier.
Lutosa, which produces French fries and speciality potato products, accounts for some 15% of the Belgian retail frozen potato market, Findus said.
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Findus described the deal as a “small but important acquisition”, which offered “synergies” with its operations in France.
It said: “Findus Group’s approach to Belgium, with the acquisition of a local brand’s license with the strategy of eventually rebranding to Findus, mirrors the group’s 2011 expansion into Spain via the acquisition of the Frudesa and Findus brands there,” it said.
James Hill, Findus’s CEO, added: “We are determined to grow our business and this acquisition gives us two new ways to do so: we can bring our broader expertise into the Belgian market and we can leverage the famed qualities of Belgian potatoes and frites elsewhere.”
In October 2012, McCain struck a deal to buy Lutosa from rival PinguinLutosa. However, the European Commission said McCain had to sell the Lutosa retail brand in Europe due to an “overlap” between the two businesses, particularly in frozen french fries.
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By GlobalData
