Nomad Foods has announced that it is set to acquire Green Isle Foods, which operates the Goodfella's Pizza brand, for approximately €225 million.
The deal will see Nomad add the frozen pizza business to its portfolio, which includes frozen food brands such as Bird's Eye, Iglo and Findus.
It is acquiring the business from 2 Sisters Food Group, a subsidiary of Boparan Holdings.
The group is the UK’s second-largest food company by turnover, operating 12 production sites in the country, with brands such as Fox's Biscuits and Donegal Catch.
Future Growth
Goodfella's Pizza manufactures and distributes a range of branded and private label frozen pizzas in the UK and Ireland.
The acquisition will also include the San Marco brand, and two manufacturing facilities in Naas and Longford in Ireland, which Nomad Foods says will provide a foundation for future expansion.
“The acquisition of Goodfella’s Pizza comes at an exciting time for our company," said Stefan Descheemaeker, CEO of Nomad Foods. "2017 was a banner year as investments in our core portfolio translated into strong organic revenue growth."
"Goodfella’s Pizza creates a new and exciting growth avenue into frozen pizza, a strategic category that is both sizable and complementary," he added.
Nomad Foods reported revenue of €459 million in the third quarter of its financial year, representing growth of 4.4%, and is set to release its full-year results in March.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
