Nomad Foods, Europe’s leading frozen food company, has announced the acquisition of east European frozen foods business Fortenova Group for a purchase price of approximately €615 million ($694 million).
Fortenova Group has a portfolio of products such as fish, ready meals, fruits, vegetables, pastry, and ice cream marketed under the Ledo and Frikom brands. The company operates in attractive markets that are new to Nomad Foods, including Croatia, Serbia, Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro, the company said.
Stefan Descheemaeker, Nomad Foods CEO commented: “We are delighted to complete this acquisition and are eager to welcome the team to Nomad Foods. Fortenova Frozen has performed well in 2021 and we expect the strength of our combined organizations to create value for years to come, building on a solid foundation underpinned by market leading brands, operational excellence and a strategic focus in frozen food”.
Source: Nomad Foods