Nomad Foods Completes €240 Million Acquisition of Aunt Bessie’s
Nomad Foods, the leading frozen foods company in Western Europe, has completed its previously announced acquisition of Aunt Bessie’s from William Jackson & Son for a purchase price of approximately €240 million.
The Aunt Bessie’s brand holds number one and number two market share positions, respectively, within the UK frozen Yorkshire puddings and frozen potatoes, which combine to represent the majority of its revenues. As a brand closely identified with roast dinners, Aunt Bessie’s will expand Nomad Foods’ portfolio into this major eating occasion. The acquisition includes a production facility in Hull, England. For its fiscal year ended April 2018, Aunt Bessie’s generated revenues and adjusted EBITDA of approximately €123 million and €23 million, respectively.
Stefan Descheemaeker, chief executive of Nomad Foods.
Stefan Descheemaeker, chief executive of Nomad Foods, comments: “The acquisition of Aunt Bessie’s exemplifies our dedication and progress towards transforming the frozen food category, both organically and through acquisitions. Aunt Bessie’s further develops our portfolio in the UK with its strong brand positioning and market leadership in frozen roast potatoes and frozen Yorkshire puddings. We are eager to welcome the Aunt Bessie’s team to the Nomad Foods organization and look forward to creating value for all stakeholders.”
In conjunction with the acquisition, Nomad Foods completed a €260 million increase in its existing term loan facilities.
Headquartered in the UK, Nomad Foods is building a global portfolio of best-in-class food companies and brands within the frozen category and across the broader food sector. The company’s portfolio of iconic brands includes Birds Eye, Findus, Iglo and Goodfella’s.
