With millions to spend, Nomad Foods considers new acquisitions

Nomad Foods

With around EUR 600 million (USD 655 million) at its disposal, European enterprise Nomad Foods – the parent company of Birds Eye, Iglo and Fundus – is situated to make more acquisitions, the company’s CEO Stefan Descheemaeker revealed to Reuters

The company is considering mid-sized acquisitions, Descheemaeker said, because as of now “For the categories we're in, that's fine. We don't need more than that," he told Reuters. 

Nomad is not interested in purchasing Picard, the French frozen food retailer that Lion Capital and Aryzta are looking to potentially sell, Descheemaeker said, and he could not provide comment to Reuters concerning the food business being sold by Reckitt Benckiser. 

"When you want to venture outside the mid-sized deals then you will need something bigger, you will have to go to your shareholders. But we're not there yet," Descheemaeker explained.

Nomad will post like-for-like sales growth for the first quarter of 2017 after six years of declines, Descheemaeker said, in what is being viewed as a turnaround for the company. 

"When you're getting out of a turnaround, it's initially difficult to see where you're going to be. So we're starting to discover this interesting world of positive growth," Descheemaeker said to Reuters. 

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