Findus Spain confirmed it's signed an agreement with Nestlé Spain to acquire the latter’s frozen ready meal business La Cochinera for an undisclosed sum.
The deal will include the La Cochinera brand and the factory where the meals are produced in Valladolid in northwest Spain. However, the package won’t include the La Cochinera chilled dough product range, which is now marketed under “The Cook” brand.
La Cochinera comprises a broad range of products, including tuna pots and fish, meat and vegetarian cannelloni. The brand has an annual turnover in the region of EUR 65 million (USD 76.7 million).
The acquisition is now subject to approval from Spain’s competition authorities.
Findus Spain is part of the Findus Group and should the deal go through it will double the scale of the group’s operations in Spain.
Headquartered in the United Kingdom but also operating in Southern Europe and the Nordics, Findus has an annual turnover of around EUR 1.4 billion (USD 1.7 billion).
