FELTHAM, England (BUSINESS WIRE) — Nomad Foods Limited announced Monday that it has completed its previously announced acquisition of Green Isle Foods Ltd. (“Goodfella’s Pizza”) from a subsidiary of Boparan Holdings Ltd. for a purchase price of £200 million, subject to customary working capital adjustments.
Commenting on the transaction, Stefan Descheemaeker, Nomad Foods’ Chief Executive Officer said, “Goodfella’s represents an important step in expanding our share of the frozen food category in Western Europe. The transaction is expected to be immediately accretive to earnings and creates a complementary avenue of growth to our base business, which continues to gain market share. We are excited to welcome Goodfella’s to the Nomad Foods organization and look forward to driving shareholder value by combining our scale and commercial capabilities with their deep knowledge and expertise of the attractive frozen pizza category.”
Goodfella’s Pizza manufactures and distributes a portfolio of leading branded and private label frozen pizzas in the United Kingdom and Ireland. The Goodfella’s brand, which accounts for the majority of Goodfella’s Pizza revenues, was founded in 1993 and holds number one and number two market share positions within the frozen pizza category in Ireland and the United Kingdom, respectively. The acquisition also includes the San Marco brand and two frozen pizza manufacturing facilities which provide a foundation for future expansion in the category.
About Nomad Foods Limited
Nomad Foods is a leading frozen foods company building a global portfolio of best-in-class food companies and brands within the frozen category and across the broader food sector. Nomad Foods produces, markets and distributes brands in 17 countries and has the leading market share in Western Europe. The Company’s portfolio of leading frozen food brands includes Birds Eye, Iglo and Findus. More information on Nomad Foods Limited is available at http://www.nomadfoods.com.