After receiving all regulatory approvals, Fortenova Group completed the sale of the Frozen Food Business Group (which owns Frikom and Croatia’s Ledo) to Nomad Foods. This concluded a transaction announced for the third quarter of 2021.
The value of the transaction was €615 million.
“This major transaction has been closed one year after the Frozen Food Business Group divestment process was initiated in Fortenova Group, despite the project having been carried out under very challenging circumstances of the pandemic,” said Fabris Perusko, CEO and member of the Board of Directors of Fortenova Group.
He expressed an expectation that “Nomad Foods will be an important business partner for Fortenova’s regional retail business going forward. For Fortenova 2021 is becoming a transformational year. We have not only completed the refinance and transfer of Mercator, where we are delivering on planned synergies, we have also delivered on a successful summer season and now we have completed the planned sale of the Frozen Food Business Group (owner of Frikom), all of which are now resulting in Fortenova having a substantially stronger capital structure,” Perusko said.
This post is also available in: Italiano