May 20th 2009
Foodvest Appoints New Chief Executive & Renames Company, Findus Group
Lion Capital and Per Harkjaer, CEO of Foodvest, have agreed that, due to differing perspectives on how to manage Foodvest going forward, Per will leave the business within the next few weeks. Per joined Findus five years ago and was instrumental in the merger of Findus and Young’s Seafood which created Foodvest, one of the largest frozen food and chilled seafood companies in Europe. We wish Per well in his future endeavours.
In parallel, the Company is announcing it will be changing its group name to “Findus Group”, consisting of Young’s, The Seafood Company and Findus businesses.
All of these changes mark a new phase of future development for the business, whereby the Findus Group will focus on greater synergy between the operating companies and fully intend to maximise the organic growth of its company brands.
Succeeding Per as the new Chief Executive as of June 1st will be Chris Britton.
Chris has been in the consumer goods industry for 25 years generating substantial profitable growth across a number of highly regarded, multi-national businesses. Until recently, Chris was an Executive Board Member and President of the Euro 1.7 billion Baby Food Division of Royal Numico – the Netherlands based publicly listed multi-national infant and clinical nutrition group, which was acquired by Danone for Euro 12.3 billion in November 2007. Under Chris’ leadership the Baby Division, which included brands such as Cow & Gate, Aptamil, Milupa and Nutrica achieved annual double digit sales growth and became the market leader in key Western, Eastern European and APAC markets.
Chris, who has a wealth of consumer brand expertise and experience, having spent his early career at Grand Metropolitan and Diageo. During this time, Chris held a number of marketing and general management positions including: CEO of R&A Baileys, President of UDV, USA Southwest and latterly as Global Marketing Director. From June 1 last year, Chris became a non-executive for Alliance Boots.
Chris brings extensive international experience having worked with developed and developing markets and lived in the Netherlands, America, Ireland and the UK.
Commenting on his appointment, Chris Britton said: “This is an opportunity which I simply couldn’t turn down. Foodvest has a brilliant team, who I look forward to working closely with. I have an absolute passion for consumer brands and driving profitable growth.”
Commenting on Per Harkjaer’s work, Chris added: “Per has achieved a great deal at Foodvest and I want to build on the solid platform he has created.”
5th March 2009
Pinneys of Scotland
Foodvest can confirm that it has today reached agreement to acquire Pinneys of Scotland from Uniq Plc subject to employee consultation.
Founded in 1976, Pinneys supplies premium quality smoked and fresh salmon as well as other seafood products and has an annual turnover of around £50m. It is the largest employer in Annan in Scotland and holds the Royal Warrant to supply smoked salmon to the Queen of England.
The Pinneys business will become part of The Seafood Company run by managing director, Pete Ward, and his team based in Grimsby. The intention is that the Pinneys management team will continue in the business and that its 515 employees will be transferred to Foodvest.
Pinneys is a first-class operation and a superb strategic fit with The Seafood Company’s existing business. Through this acquisition The Seafood Company will further strengthen and extend its leadership position in the chilled seafood sector in the UK.
It is anticipated that the acquisition will be completed during March 2009.
Media enquiries regarding The Seafood Company to Lesley Alexander, Smarts t. 0141 222 2040 m. 07968 525783.
12th January 2009
The Foodvest Group and Findus in the UK
Foodvest is the overall owner of the Findus brand, and producer of Findus products via its frozen food operations in Scandinavia and France. In the UK, the Findus brand is not operated by Foodvest but licensed to an unconnected company, Findus UK Ltd, and its subsidiary Newcastle Productions. These companies produce and market frozen products that are sold in the UK under Findus as well as other brands.
Further to the announcement today that Newcastle Productions has gone into administration, Foodvest is monitoring the situation carefully and will be in discussion with the receiver.
There is currently no further news on the future of the Findus brand in the UK market, which is subject to the administration process of Newcastle Productions. However Foodvest can confirm it is not considering the sale of the brand license to any other third party.
22nd July 2008
Lion Capital Buys Foodvest
Parent company of Young’s Seafood/Findus sold in major deal
It has been agreed today that private equity firm, Lion Capital will acquire the Foodvest Group from funds advised by CapVest Ltd.
Foodvest is a major European food group with operations in the UK, Scandinavia, France and a growing presence in Central and Eastern Europe. The company has more than 6000 employees across 20 facilities in 5 countries and in 2007 generated over £1.0 billion of turnover.
In the UK Young’s is the leading branded producer and distributor of seafood, with a 200 year old heritage of selling a wide range of high quality seafood products - both chilled and frozen - in retail and foodservice channels. Its market-leading products are staples of the British diet and include the Young’s Chip Shop range and Young’s Admiral’s Pie, the UK’s best-selling ready meal.
Findus is the leading, branded frozen food manufacturer in Scandinavia, with market leadership in Sweden, Norway and Finland within each of the frozen ready meals, fish and vegetables segments in which it operates. Findus also has a strong presence in France, where it has the strongest brand recognition of any frozen food brand.
The Seafood Company is a leader in the production of chilled, private-label seafood products in the UK, selling to all of the major UK multiples. It is Europe’s biggest processor of farmed Atlantic salmon.
For more information please contact...
Christine Solloway t. 0044 (0) 7974 232015 email: chris@wordbird.net
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