Findus Spain, part of Findus Group, today (8 January 2015) announces 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 65million euros. The potential acquisition would double the scale of Findus Group’s operations in Spain.
Findus Group is one of Europe’s leading seafood and frozen food businesses with a turnover in excess of 1.4billion euros. The additional turnover that this acquisition will add represents less than 5% 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.