herald

Saturday 3 December 2016

Birds Eye in talks to take over Findus

The owners of Birds Eye are in talks to take over Findus in a move that would create a frozen foods giant.

Nomad - an acquisition vehicle backed by entrepreneurs Martin E Franklin and Noam Gottesman - said it was in early talks to buy frozen-food producer Findus Group.

The discussions are said to be focused on Findus's continental European business and its brand, Nomad said in a statement.

A deal would follow an agreement in April by London-based Nomad to purchase Iglo Foods Holdings, the maker of Birds Eye frozen vegetables, for €2.6bn.

A combination of Iglo and Findus would create a frozen food giant with products spanning fish fingers, peas and microwavable lasagna.

Iglo is the world's second-largest frozen-food manufacturer, with 3.3pc of the market in 2014, according to data from Euromonitor International.

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