Findus Group has confirmed that it has approached its lending syndicate to seek long-term financing to fund the European frozen food firm’s future expansion.
A spokesperson for the manufacturer told just-food today (13 April) that the funding will be predominantly for organic expansion but that it is “not ruling out bolt-on strategic acquisitions”.
The spokesperson suggested that Findus would consider acquisitions that extend its geographic reach or product set. However, he added that it would be remiss to imply that the company is planning on going on a major acquisition spree.
The confirmation follows the announcement last week that Findus Group had entered an agreement to regain control of the Findus brand in Spain, which it licensed to rival frozen-food firm Ardo in 2005. Findus has also taken control of frozen vegetable brand Frudesa and ready-meal brand Salto from French vegetable group Bonduelle.
The spokesperson added that the planned restructuring would be in sterling and would significantly reduce the “substantial currency effects of of Findus’s current euro denominated borrowings”.