Nomad Foods is Europe's leading marketer of frozen savoury foods, operating across Europe under three main brands: Birds Eye (in the UK & Ireland), Iglo (in around half of continental Europe) and Findus (for the rest of mainland Europe). Each brand comprises a wide variety of frozen vegetables and fish as well as chicken and a growing collection of savoury meat-free foods. In 2018 it moved into an entirely new sector with the acquisition of Goodfella's and San Marco, the top two frozen pizza brands in the UK, and also Aunt Bessie's side-dishes and desserts. The bulk of the business was originally owned by Unilever, but sold to private equity fund Permira in 2006. Under the new name Iglo Group, it was put up for sale again in 2012 but no buyer was found. A deal was finally secured in 2015 with newly created, private equity backed Nomad Foods, which subsequently acquired the Findus brand in several markets where it wasn't already part of Iglo. Birds Eye was a pioneer in establishing the UK market for frozen food during the 1950s, and was extended to Europe at the end of that decade under the name Iglo. Together they are one of Europe's best-known food businesses. (The Birds Eye brands in the US and Australia are entirely separate). Stefan Descheemaeker is group CEO; Steve Challouma is UK general manager. Group revenues for 2019 were €2.3bn, with a net profit of €154m. The UK alone accounted for revenues of €712m or 31% of group total. Italy and Germany together accounted for another 31%. Other key markets by revenues are Sweden, France, Norway and Austria. According to Euromonitor, Nomad had 12.6% of the savoury frozen foods market in the countries in which it operates, almost double its nearest competitor.
Capsule checked 20th October 2020
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Historical profile information for Nomad Foods
Adbrands Daily Update 30th Mar 2021: Nomad Foods is entering a new category with a deal to acquire Croatian company Ledo, currently the frozen foods division of local conglomerate Fortenova Group. It is the leading marketer of frozen foods in the region, with operations in Croatia, Serbia, Bosnia & Herzegovina and several other countries in South East Europe. Although the range includes frozen fish, vegetables and ready meals similar to those already produced by Nomad in other countries, around half of Ledo's sales are generated by ice cream, a first for Nomad. Products include take-home tubs but also impulse bars bearing strong similarities to Unilever's Magnum and Cornetto. Ledo's main brand is King, supported by better-for-you Highlife, and a range of impulse bars including Macho and Kornet. Purchase price is £615m.
Adbrands Weekly Update 7th Jun 2018: Frozen meals specialist Nomad Foods is gradually hoovering up all the brands in that market segment worth owning, especially in the UK. Latest addition to the portfolio is Aunt Bessie's, makers of an extensive range of frozen side dishes, meals and desserts. The deal price is €240m. The purchase introduces Nomad to several new segments. Nomad was formed in 2015 from the purchase of Iglo Birdseye, which markets frozen vegetables, fish and chicken products under the Birdseye brand in the UK and as Iglo across most of mainland Europe. Nomad later added main rival Findus, and more recently Goodfella's and San Marco frozen pizza in the UK.
Adbrands Weekly Update 25th Jan 2018: Frozen foods specialist Nomad, owner of the Birds Eye brand in the UK and Iglo across Europe, is moving into pizzas for the first time. It has agreed to acquire the Goodfellas and San Marco brands from 2 Sisters Food Group. Deal price was €225m. Goodfellas and San Marco are the #2 and #4 frozen pizza brands in the UK, behind Dr Oetker's Chicago Town and Ristorante brands respectively.
Adbrands Weekly Update 20th Aug 2015: Nomad Foods, the newly created investment vehicle which acquired the Iglo and Birds Eye frozen foods brands earlier this year, has agreed a separate deal to buy that business's main rival in continental Europe, Findus Group, for £500m in cash and shares. The new purchase will add subsidiaries in Scandinavia, France, Spain and Belgium to Nomad's footprint, as well as all European rights to the Findus, Lutosa and La Cocinera brands. The deal does not include Findus's UK operations, including Young's seafood, which will be retained by private equity investor Lion Capital.
Adbrands Weekly Update 14th May 2015: Nomad Foods, which recently acquired European frozen foods group Iglo Birdseye, named former Delhaize and InBev executive Stefan Descheemaeker as CEO.
Adbrands Weekly Update 23rd Apr 2015: Frozen foods business Iglo Group, owner of Birds Eye in the UK, Findus in Italy and Iglo in much of mainland Europe, is to regain a public listing, following its sale by private equity owner Permira for €2.6bn. The buyer is cash shell Nomad Foods, already quoted in the UK, but controlled by US entrepreneurs Martin Franklin and Noam Gottesman. Further acquisitions are likely to follow. At the same time, Iglo's CEO Elio Leoni Sceti resigned to take up a new role as chief executive of beauty giant Coty, taking over from that group's chairman Bart Becht. (Becht and Leoni Sceti previously worked together at Reckitt Benckiser). His successor at Iglo has yet to be named.
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