Nestlé Sells Spanish Frozen Foods Business to Findus
As part of its ongoing portfolio review, Nestlé Spain has agreed to sell La Cocinera, its Spanish frozen ready to eat meals business, to Findus Spain, part of the Findus Group. The divestment includes La Cocinera brand and the Valladolid factory, where the frozen culinary products are produced. The chilled dough products (obleas, puff pastry, pie dough, etc), today under La Cocinera brand, are not part of the deal.
The agreement is subject to the approval of the Spanish competition authorities.
The Findus Group is one of Europe’s largest frozen food and seafood companies with leading brands, 6,000 employees and over £1 billion turnover. Operationally decentralised into three regional clusters, Findus Group is the parent company of Findus in the Nordics, Young’s Seafood in the UK and Findus in Southern Europe. In the Nordics, Findus is an iconic brand delivering premium frozen food across all major categories of fish, vegetables, meals and bakery. In the UK Young’s Seafood has a market leading position in branded seafood through the Young’s brand and supplies most of the major UK retailers with private label chilled seafood. In Southern Europe, Findus is the market leader in frozen food in France and the market leader in frozen vegetables in Spain.
