Findus Group aims to double Spanish operations with La Cocinera buyout
Findus Spain has agreed to buy Nestlé’s La Cocinera frozen ready meals business for an undisclosed sum, subject to approval from Spanish competition authorities.
The deal would include Nestlé Spain’s frozen ready meal business in Valladolid in northwestern Spain and the La Cocinera brand in Spain, which has a turnover of about €65m. The factory will remain under the control of Nestlé Spain under the terms of the deal, and La Cocinera chilled dough products made there are not included.
“The potential acquisition would double the scale of Findus Group’s operations in Spain,” the UK-headquartered frozen foods and seafood specialist said in a statement.
The company said the acquisition would add less than 5% to its current turnover of about €1.4bn.
It has declined to comment further until approval from competition authorities.
