Nomad Foods has confirmed that it has entered an agreement to acquire Aunt Bessie’s Limited from William Jackson & Son Limited, for approximately €240 million.
Frozen food brand, Aunt Bessie’s, which manufactures, distributes and sells a range of branded frozen products, will further expand Nomad Foods’ portfolio into the sector. The acquisition includes a production facility in Hull.
The company expects the combination of Aunt Bessie’s, Birds Eye and the recently acquired Goodfella’s brand to result in a broader but complementary portfolio, with enhanced scale, greater diversification and more resources to develop category growth.
Commenting on the transaction, Stefan Descheemaeker, Nomad Foods’ chief executive officer, said: “We are excited to welcome Aunt Bessie’s to Nomad Foods. Aunt Bessie’s iconic brand, positive values and strong product credentials align well with our existing portfolio. As our second accretive acquisition in 2018, Aunt Bessie’s represents another step toward our goal of transforming the frozen food category and building a portfolio of best-in-class food brands.”
Noam Gottesman, Nomad Foods’ co-chairman and founder, commented: “The acquisition of Aunt Bessie’s illustrates the power of our value creation model.” He added: “Similar to Goodfella’s Pizza, which we acquired earlier this year, Aunt Bessie’s is expected to be immediately accretive to earnings while providing complementary category exposure, synergy opportunities and new avenues for growth.
“We look forward to welcoming the Aunt Bessie’s team to our organisation and working together to build on their success.”