FFBG is a leading European frozen food portfolio operating in new markets that were attractive to Nomad, it said. These included Croatia, Serbia and Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro.
Its two anchor brands, Ledo and Frikom, had the biggest market share in many of these markets, according to Nomad. They commanded a broad range of frozen food products including fish, fruits, vegetables, ready meals, pastry and ice cream.
“The acquisition of FFBG reinforces Nomad’s European frozen food leadership while strategically expanding our portfolio into attractive new markets and creating an exciting new category adjacency in ice cream,” said Stéfan Descheemaeker, Nomad Foods’ chief executive officer.
Focused on frozen food
“Similar to Nomad, FFBG is singularly focused on frozen food, a fantastic category that is aligned with consumer trends including convenience and sustainability. We plan to leverage our combined pan-European scale, commercial expertise and passion for frozen food while harnessing the unique local characteristics and traditions of FFBG’s brands.”
Noam Gottesman, Nomad Foods’ co-chairman and founder, said: “We are delighted to announce this acquisition, which is consistent with our growth strategy and builds on our five-year track record of top-tier shareholder value creation.
“This transaction provides a natural extension to our existing business and creates a new platform for future expansion within Central and Eastern Europe. It also introduces us to ice cream, an exciting new category which opens new potential avenues for growth.