Nomad to buy more ASC pangasius in 2023
European frozen food company Nomad Foods has signed new contracts to secure increased supplies of Aquaculture Stewardship Council-certified farmed pangasius from Vinh Hoan, VDTG, and Godaco Seafood starting next year.
Nomad, which purports to be the world’s largest branded purchaser of Marine Stewardship Council (MSC) certified fish, said the contracts mark a significant milestone in its journey to source 100 percent of all its seafood from sustainable fishing or responsible farming by 2025.
“Working with the MSC for over 25 years, we have led the way in protecting wild fish stocks for future generations. We now plan to apply this knowledge to drive higher standards across the aquaculture supply chain, as we grow our existing partnership with the ASC and increase the range of fish species we use for our products,” Nomad Foods CEO Stéfan Descheemaeker said. “At the same time, we are progressing a number of partnerships aimed at developing and scaling emerging food technologies, in areas including cell-cultured fish and alternative proteins such as mollusks, to support wider efforts to safeguard the long-term availability of quality, affordable and great tasting seafood that is healthy for people and sustainable for the planet.”
Vinh Hoan, VDTG, and Godaco Seafood rank among the largest suppliers of ASC-certified pangasius.
“Vinh Hoan are proud to be a part of Nomad Foods’ supply chain of sustainably sourced ASC certified pangasius into European markets. We have worked hard for many years to develop this healthy source of protein with the highest quality, ensuring it is responsibly processed and from integrated and accredited farms,” Vinh Hoan CEO Nguyen Ngo Vi Tam said.
Meanwhile, Nomad has announced the launch of an anticipated refinancing of its existing Term Loan B of USD 960 million (EUR 972 million) principal, due mid-2024, with a USD 825 million (EUR 835.3 million) seven-year term loan with lender meetings anticipated to follow later this week. The company intends to use the net proceeds to refinance its existing loan and use the balance of the proceeds for transaction expenses and general corporate purposes.
Headquartered in the United Kingdom, Nomad’s brand portfolio includes Birds Eye, Findus, iglo, Ledo, and Frikom.