iglo Announces 15% Sales Growth

iglo

European frozen food company iglo posted a sales growth of 15.3% in 2017, equaling EUR466m (Nielsen figures), the company announced. Iglo said that the reason for the boost was its performance in vegetables, Blubb spinach, and fish, according to ESM Magazine. The overall frozen food market in Germany grew by only 1.7%, in comparison.

The company, which was taken over by Nomad Foods Ltd. in 2015, said that it tackled a recent downward trend by implementing ‘strategy changes’ to expand its market share. The Nomad Foods group is present in 13 European countries with its iglo, Findus and Birdseye brands. It saw an organic growth of 4% in the 2017 financial year. Net sales reached approximately EUR2bn, with an EBITDA margin of +16.8%.

Its multi-million euro investment in a vegetable factory in Münsterland caused its production capacity to nearly double, the company said. It has a second production site in Germany, the frozen fish factory in Bremerhaven. The group currently employs around 1,450 staff in the country.

In April, the company completed the acquisition of Green Isle Foods, which owns the Goodfellas pizza brand, for GBP200m in cash.