In a financial statement made recently, Findus Group has confirmed that it has entered talks on an exclusive basis with Nomad Holdings, regarding a potential sale of the Findus continental European businesses.
The scope of these discussions includes Findus Nordic (including Sweden, Norway, Finland and Denmark) and Findus Southern Europe (including France, Spain and Belgium) but not Young’s Seafood Limited, Findus Group’s leading fish and seafood company in the UK.
“Due Diligence is currently taking place. These discussions may or may not result in a transaction. As well as Due Diligence, employee consultation and regulatory issues may eventually need to be addressed. Meanwhile, Findus Group and its businesses units in all markets are focused on business as usual – continuing to serve its customers and provide high quality food to consumers across Europe. A further announcement will be made in due course,” according to Findus reps.
Recently, Nomad acquired Iglo Foods Holdings Limited, Europe’s leading frozen food company, from a company backed by the Permira Funds, for approximately EUR2.6 billion.