Nomad Foods Limited announced that it has entered into an agreement to acquire Green Isle Foods Ltd. (“Goodfella’s Pizza”) from a subsidiary of Boparan Holdings Ltd. for approximately €225 million on a debt free, cash free basis.
Goodfella’s Pizza manufactures and distributes a portfolio of leading branded and private label frozen pizzas in the United Kingdom and Ireland. The Goodfella’s brand, which accounts for the majority of Goodfella’s Pizza revenues, was founded in 1993 and holds number one and number two market share positions within the frozen pizza category in Ireland and the United Kingdom, respectively. The acquisition also includes the San Marco brand and two frozen pizza manufacturing facilities which provide a foundation for future expansion in the category.