FINDUS Spain, part of Findus Group, which owns Young’s Seafood in the UK, has announced the signing of an agreement with Nestlé Spain of its intention to acquire the La Cocinera frozen ready to eat meals business.
The acquisition would include the frozen ready meal business based at the Valladolid factory and La Cocinera brand in Spain, which has a retail turnover of some 65 million euros.
The potential acquisition would double the scale of Findus Group’s operations in Spain and signals the group’s intention to expand into the European seafood and ready meals market.
Findus Group is one of Europe’s leading seafood and frozen food businesses with a turnover in excess of 1.4 billion euros.
The additional turnover that this acquisition will add represents less than five per cent of the current turnover of the Findus Group internationally.
The transaction will be subject to the approval of the Spanish competition authorities and, pending this approval, Findus Group does not wish to comment further.
Findus Group is one of Europe’s leading seafood and frozen food businesses, with more than 6,000 employees and a turnover in excess of 1.4 billion euros.
Serving up chilled, frozen, branded and own-label, fish, vegetables and meals across Europe, Findus Group offers a wide range of local food to local markets.
The La Cocinera brand includes a wide range of products including vegetarian, fish and meat cannelloni along with tuna pots and vegetable soups and other products.