THE COMPANY BEHIND Birds Eye is splashing out €225 million to acquire the owner of Goodfella’s, the largest frozen food pizza brand in Ireland.
In an announcement today, Nomad Foods said that it has entered into an agreement to acquire Green Isle Foods on a debt-free basis.
Headquartered in Naas, Green Isle is Ireland’s largest frozen food producer. It employs more than 430 people in two manufacturing sites in Kildare and Longford, as well as a logistics team in Naas and a commercial team in Yorkshire.
The company is perhaps best-known for its Goodfella’s Pizza brand, which was created in 1993 and accounts for the majority of its sales.
The Goodfella’s brand holds the number one market share position within the frozen pizza category in Ireland, and the number two spot in the UK.
Sales
Green Isle is being sold by Boparan Holdings, a UK-based food company which owns the likes of turkey producer Bernard Matthews and Fox’s Biscuits.
Nomad Foods said that it expects the new business to contribute €150 million in sales to its new owner over the next two years and as much as €25 million in earnings.
Nomad Foods founder Noam Gottesman said that the Goodfella’s Pizza brand will broaden the company’s “product offering and customer reach”.
He added: “(It will) solidify our market leadership within the United Kingdom and Ireland.”
It is expected that the deal will be completed in the first quarter of the year.
The deal to acquire Green Isle Foods will also involve Nomad Foods acquiring the San Marco frozen pizza brand.
Written by Paul O’Donoghue and posted on Fora.ie
To embed this post, copy the code below on your site
have your say