Findus Group Buys Belgium's Lutosa
summary：Findus Group, the frozen food manufacturer based in the UK, yesterday announced their purchase of Belgian company Lutosa retail for an undisclosed amount....
Findus Group, th
e frozen food manufacturer based in the UK, yesterday announced their purchase of Belgian company Lutosa retail for an undisclosed amount.According to Findus, Lutosa- the maker of french fries and speciality frozen potato products, holds 15% of the market share in Belgium.
In statement released by the company, Findus CEO James Hill said that the deal was a "small but important acquisition".
"We are determined to grow our business and this acquisition gives us two new ways to do so. We can bring our broader expertise to the Belgian market and we can bring the leverage the famed qualities of Belgian potatoes and frites everywhere.".
The UK Group also said that they plan to rebrand Lutosa as Findus in the future. There is currently no plan to sell Lutosa products in the UK and Findus believe the purchase offered synergies with "operations in France".
Lutosa was previously part of the PinguinLutosa Group, but was sold as part of an EU competition authority condition which cleared the way for the Group's acquisition by McCain's in 2013.