It has been reported that Iglo Group, the company which makes Findus and Birds Eye, has sold the firm to a US investment vehicle Nomad Holdings for EU2.6 billion (£1.9 million).
The US firm has only been in existence since last year and Iglo Group, the largest frozen food business in Europe, is its first purchase. The previous owner, Permira will still have a minority stake.
Nomad’s Co-Founder, Mr Franklin said "We took a highly disciplined approach to evaluating opportunities for Nomad's initial investment," adding "During this process, it was abundantly clear that Iglo Group was a natural fit from both a strategic and a financial standpoint.
"This is a well-run business that has cemented itself as a leader in an attractive, yet highly fragmented sector, which paves the way for both organic and inorganic growth opportunities."
The current chief executive, Elio Leoni Sceti will be leaving the company in June and Nomad are looking to replace him “in the near future”.
