Birds Eye owner adds Goodfella's to menu
The owner of Birds Eye has cooked up a €225m (£199m) deal to buy frozen food brand Goodfella's Pizza from the parent company behind Fox's Biscuits and Bernard Matthews.
Nomad Foods has snapped up Goodfella's from Green Isle Foods, a subsidiary of Boparan Holdings which is spearheaded by food mogul Ranjit Boparan.
It will see the group take charge of pizza brands Goodfella's and San Marco, and two frozen pizza manufacturing facilities, as it eyes market expansion.
Goodfella's, which is the market leader in Ireland and holds the second biggest market share in the UK, is expected to bolster Nomad's revenues by €150m (£133m) and earnings by between €22m (£19m) and €25m (£22m) two years after the takeover closes.
The deal is expected to be sealed by the first quarter of 2018. It comes amid speculation that Mr Boparan is also lining up a tie-up between Fox's Biscuits and Wagon Wheels-owner Burton's Foods.
Nomad Foods chief executive Stefan Descheemaeker said: "Goodfella's Pizza creates a new and exciting growth avenue into frozen pizza, a strategic category that is both sizeable and complementary."