William Jackson sells Aunt Bessie’s to Nomad Foods
Our client, William Jackson & Son Limited, today announced that it had entered into an agreement to sell Aunt Bessie’s Limited to Nomad Foods Limited, the leading frozen foods company, for approximately £210 million.
Aunt Bessie’s is a leading frozen food company in the UK where it manufactures, distributes and sells a range of branded frozen food products. The Aunt Bessie’s brand holds number one and number two market share positions, respectively, within frozen Yorkshire puddings and frozen potatoes, which combine to represent the majority of its revenues. As a brand closely identified with roast dinners, Aunt Bessie’s will expand Nomad Foods’ portfolio into this major eating occasion. The acquisition includes the company’s production facility in Hull, England.
For Nomad the combination of Aunt Bessie’s, Birds Eye and recently acquired Goodfella’s results in a highly complementary portfolio with significantly enhanced scale, greater diversification and more resources to accelerate category growth.
Nicholas Oughtred, Chairman of William Jackson Food Group, said: “As a responsible business owner we must do what we believe is right for every one of our businesses and this sale presents a great, long-term opportunity for Aunt Bessie’s. Aunt Bessie’s has come a long way with us. We’ve invested heavily in developing the business and the brand, and Nomad Foods is well placed to take the business even further. Nomad Foods is a well-known food group with a strong commitment to the frozen category, incredible experience, scale and investment capabilities and I’m sure Aunt Bessie’s will continue to thrive.”
The transaction is expected to be completed during the third quarter of 2018, subject to certain closing conditions including obtaining any necessary regulatory approvals.