Iglo Group, Europe’s leading frozen foods business, will withdraw from Slovakia, Romania, and Turkey.
The Feltham, UK-based company has recently concluded a review of its geographical footprint. "As a result of this review, the group plans to cease marketing its products in Romania, Slovakia and Turkey where the frozen category is small in terms of the overall grocery market," the company said in its Q3 2014 performance update.
In its statement Iglo added that sales to these three countries are considered immaterial to the group and so are not expected to have a significant impact on the overall financial performance of Iglo Group.
“Tough market conditions continue to impact the sector with consumer spending under pressure across all European markets,“ said Elio Leoni Sceti, chief executive officer.
According to Iglo, their key product launch of the quarter has been the new Steamfresh platform in the UK and Austrian markets, which combines existing ranges, such as Rice and Vegetable Fusions, with newly launched products, such as pasta-based dishes and vegetable mixes.
The company’s core brands are Iglo, Birds Eye and Findus. The UK, Italy, Germany and Austria are the largest markets of Iglo, representing approximately 85 per cent of turnover.
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