Frozen seafood company ready to acquire again

Nomad Foods is gearing up for another acquisition, announcing this week it has generated a funding base of a little over USD 330 million (EUR 298.6 million).

According to Alliance News, the company has announced it has placed up to 15.4 million shares through an accelerated bookbuilding process, worth a total of USD 331.5 million (EUR 299.9 million).

Nomad made headlines back in April when it announced it was buying up London-based Iglo, makers of the Birds Eye frozen food brand. Two months later, London-based Findus Group confirmed it was engaged in talks to sell its operations to Nomad, but those talks did not involve Young’s Seafood, one of Findus’ signature brands.

The Findus announcement made clear at the time that no sale was being announced yet. It is unclear whether Nomad is raising cash now for financing a purchase of Findus or some other venture, but the Alliance News article said the company was raising the cash specifically for an acquisition.