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M&A Deal Summary

Nomad Foods Acquires Fortenova Group - Frozen Food Business Group

On March 29, 2021, Nomad Foods acquired food company Fortenova Group - Frozen Food Business Group from Fortenova Group for 615M EUR

Acquisition Highlights
  • This is Nomad Foods’ 6th transaction in the Food sector.
  • This is Nomad Foods’ largest (disclosed) transaction.
  • This is Nomad Foods’ 1st transaction in Croatia.

M&A Deal Summary
Date 2021-03-29
Target Fortenova Group - Frozen Food Business Group
Sector Food
Buyer(s) Nomad Foods
Sellers(s) Fortenova Group
Deal Type Divestiture
Deal Value 615M EUR
Advisor(s) BDK Advokati (Legal)

Target

Fortenova Group - Frozen Food Business Group

Zagreb, Croatia
Fortenova Group's Frozen Food Business Group provides a frozen food portfolio operating in attractive markets new to Nomad, including Croatia, Serbia, and Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro.

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Buyer(S) 1

Buyer

Nomad Foods

Feltham, United Kingdom
Category Company
Founded 2014
Sector Food
Employees6,864
Revenue 3.1B EUR (2024)
DESCRIPTION

Nomad Foods is a frozen foods company that manufactures and sells frozen foods to grocery retailers. Nomad Foods was founded in 2014 and is based in Feltham, England.

DEAL STATS #
Overall 6 of 6
Sector: Food M&A 6 of 6
Type: Divestiture M&A Deals 5 of 5
Country: Croatia M&A 1 of 1
Year: 2021 M&A 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-09 Froneri International - Frozen Foods

St Gallen, Switzerland

Froneri International Ltd. - Frozen Foods is a frozen food brand that provides ice creams based in St Gallen, Switzerland.

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Seller(S) 1

SELLER

Fortenova Group

Zagreb, Croatia
Category Company
Founded 2019
Sector Food
Employees52,000
DESCRIPTION

Fortenova Group provides three core businesses: Retail & Wholesale, Food and Agriculture, while the non-core businesses are grouped within a separate holding. Fortenova Group was founded in 2019 and is based in Zagreb, Croatia.

DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Croatia M&A 1 of 1
Year: 2021 M&A 1 of 1
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