LONDON – August 14, 2015 – International law firm Greenberg Traurig, LLP advised Nomad Foods Limited (Nomad) on its acquisition of Findus Group's continental European businesses in Sweden, Norway, Finland, Denmark, France, Spain, and Belgium for a value of £500 million.
Nomad and Findus Group are two of Europe’s leading packaged and frozen foods companies. The operations being acquired include approximately 1,500 employees and six manufacturing facilities in Norway, Sweden, France, and Spain as well as the intellectual property and commercialisation rights in the relevant territories. The acquisition is expected to be immediately accretive to Nomad's earnings with approximately €25 million to €30 million of annual synergies targeted over the next three years.
Through Iglo Foods Holdings Limited and its subsidiaries (Iglo Group), Nomad currently operates Findus in Italy and this transaction creates a pan-European food business and further reunites the brand across the continent. This will enable Findus to move forward as a more unified brand and will support efforts to drive innovation, introduce new meal options, and conduct marketing initiatives aimed at bringing more consumers across Europe to the frozen foods aisles.
Other members of the team included shareholders Cate Sharp (London), Graham Iversen (London), Brian J. Gavsie (Fort Lauderdale), Sean W. Bezark (Chicago), Flora R. Perez (Fort Lauderdale), and Emma L. Menzies (London); associates David Hirschman (London), Adam Cain (London), Gary Bellingham (London), Simon Harms (London), and Luke Dixon (London); and trainee Amy Moore (London).