London-based seafood company Findus Group has announced it has completed the sale of its continental European business and brand rights to Nomad Foods.
The company first announced the sale in August, valued at approximately GBP 500 million (USD 768.8 million, EUR 701.2 million). The company retains ownership of the U.K.-based Young’s Seafood Limited, now described as Young’s Seafood International Holdings.
“Today’s sale transaction involving Findus marks a significant, positive milestone for the European food industry and its principal stakeholders,” said CEO James Hill. “Young’s Seafood Limited is already the U.K.’s leading fish processor, with unparalleled expertise and track record in bringing great seafood to market, be that frozen or chilled, Young’s or retailer branded. With the Findus transaction now behind us, we shall redouble our drive for improvement in Young’s, focusing on our customers, our market share and our processing efficiency.”
The sale follows Nomad’s purchase in April of Iglo, known for frozen foods brands such as Birds Eye.
