Nomad Foods to acquire Fortenova Group’s Frozen Food Portfolio

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Nomad Foods Limited has entered into an agreement to acquire Fortenova Group’s Frozen Food Business Group (FFBG) for aggregate consideration of approximately €615 million on a debt-free, cash free basis.

Nomad Foods is Europe’s leading frozen foods company (with brands such as Birds Eye, Findus, iglo, Aunt Bessie's, Goodfella's) whereas FFBG is a leading European frozen food portfolio operating in Serbia, Croatia, Bosnia & Herzegovina, Montenegro, Hungary, Slovenia, Kosovo and North Macedonia. Its two anchor brands, Ledo and Frikom, are the market leaders in these counties, operating across numerous categories including fish, fruits, vegetables, ready meal, pastry and ice cream.

Five SEE Legal member firms advised on this cross-border transaction besides Norton Rose Fulbright as the lead international counsel. BDK Advokati (Serbia, Montenegro and Bosnia and Herzegovina) and Divjak, Topić, Bahtijarević & Krka Law Firm (Croatia) performed legal due diligence of the operating companies of the target business and advised on regulatory approvals, while ŠELIH & PARTNERJI Law Firm (Slovenia), KALO & ASSOCIATES (Kosovo) and Polenak Law Firm (North Macedonia) advised on the aspect of the transaction pertaining to their respective jurisdictions. Lakatos, Köves and Partners advised on the Hungarian aspects.

Divjak, Topić, Bahtijarević & Krka team was led by Senior Partner Damir Topić and Attorney Dina Salapić. Other lawyers included Senior Partner Mario Krka, Head of IP & TMT Olena Manuilenko, Senior Attorney Jasna Belčić, Attorneys Iva Crnogorac and Emil Cetina, Associates Sanja Novoselić and Iva Vukoja, and several trainees.