Private equity firm Permira said Monday it has agreed to sell Europe's biggest frozen foods company Iglo, maker of Birds Eye fish fingers, to Nomad Holdings for 2.6 billion euros.
Permira will sell Iglo Group to London-listed takeover vehicle Nomad for the equivalent of $2.7 billion, it said in a statement.
As part of the deal, the private equity company will retain a nine percent stake in Nomad Holdings, which will change its name to Nomad Foods after the transaction has completed.
Iglo Group produces iconic frozen food brands including Birds Eye in Britain and Ireland, Iglo in Germany and continental Europe, and Findus in Italy.
"What people eat and how and when they eat are constantly evolving, making food one of the most resilient yet dynamic categories in the consumer sector," said Nomad co-founder Noam Gottesman in a separate statement.
"Iglo Group's strong brands are clear market leaders in frozen food, and the company's innovative and customer-centric approach will continue to drive organic growth and superior returns within the industry."
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:22 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 14:17 2018 Thursday ,25 October
BP eyes entering several new Rosneft projectsGMT 12:08 2018 Saturday ,20 October
OPEC participants performed Vienna Agreement by 111%GMT 16:14 2018 Saturday ,06 October
Saudi Aramco IPO to go ahead by early 2021GMT 19:01 2018 Thursday ,04 October
LEAD S. Korean firms offer aid for quake-hit IndonesiaMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor