Permira-backed Birds Eye Iglo acquires Findus Italy
Permira-backed Birds Eye Iglo has agreed to acquire the frozen food producer Findus Italy from Unilever.
The deal is worth a reported €805m, with Permira contributing approximately €300m equity.
Permira acquired Birds Eye from Unilever in November 2006 for €1.7bn and Findus Italy will now be incorporated into the company. The acquisition of Findus Italy includes the following brands: 4 Salti in Padella, Sofficini, Capitan Findus and That's Amore. Turnover for the company was €462m in 2009 and annual EBITDA is between €81-€87m.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Viktor Lundvall on +44 20 7004 7476 or viktor.lundvall@incisivemedia.com
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