Young’s distanced from Nomad deal
Following speculation of a takeover, Findus released a statement today admitting that preliminary discussions are being held on an exclusive basis with Nomad Holdings Ltd regarding a potential sale of the Findus continental European businesses.
However, Findus stresses that: “The scope of these discussions includes Findus Nordic (including Sweden, Norway, Finland and Denmark) and Findus Southern Europe (including France, Spain and Belgium)."
This means that Young’s - the group's Grimsby-based fish and seafood company, whose contract to supply salmon to the UK supermarket chain Sainsbury's has itself been the subject of much speculation of late - is unlikely to be inovled in any takeover.
The statement adds: “Due Diligence is currently taking place. These discussions may or may not result in a transaction. As well as Due Diligence, employee consultation and regulatory issues may eventually need to be addressed. Meanwhile, Findus Group and its businesses units in all markets are focused on business as usual – continuing to serve its customers and provide high quality food to consumers across Europe.”
A further announcement will be made in due course.
