Today the Findus Group announced the completion with Bonduelle and Ardo Groups to launch Findus’ return to the Spanish market. The Findus Group, one of Europe’s largest food and seafood companies, today also launched its vision and strategy for Spain.
As part of the deal, the Findus Group will take back the direct responsibility for sales and marketing of the Findus brand in Spain, which it had previously licensed to Ardo in 2005. At the same time, the Findus Group, will also acquire Frudesa, the frozen vegetable brand, and Salto, the ready-meal brand, from Bonduelle. The deal follows the clearance, by the Spanish competition authorities, on 18 May 2011.
Chris Britton, Chief Executive of the Findus Group, said: “I’m delighted to launch our vision and strategy for the Spanish market. There is significant scope for growth in vegetables, ready-meals and the frozen category as a whole in Spain, Europe’s fifth largest frozen market. We’re looking forward to driving innovation, growing our presence, re-investing in our brands and inspiring our consumers in Spain.”
The Findus Group vision for Spain is to become No 1 in the Spanish market by consolidating the existing vegetables and ready-meals categories and by entering new categories.
The Findus Group’s business in Spain will be focussed on frozen – creating growth in the category – so that retailers see frozen as one of the most exciting categories in store. Findus Group companies have already achieved this shift in other core markets across Europe.
The Findus Group strategy for Spain will be to consolidate its new leadership position as number one in vegetables (24% share through Findus and Frudesa) and number one in ready-meals (14% value share through Salto). The business aims to grow the vegetable market in Spain for the whole vegetable category, through increased innovation and marketing spend. Findus Group recognises that consumers are increasingly interested in the quality and nutritional value of vegetables and will help people to consume more frozen vegetables.
At the same time, Findus Group plans to drive dynamic growth in the ready-meal category in Spain, by re-investing into the Salto brand with increased innovation and marketing spend. Findus Group has shown in other markets that it is possible to drive category growth in ready-meals. The business will be based in Navarra and will include both the Bonduelle and Ardo teams.
Source: Findus Group