At exit, Iglo Group was a branded pan-European frozen food company. It operated three iconic brands: Birds Eye (#1 frozen brand in the UK), Findus (#1 in Italy), and Iglo (#1 in Germany, Austria, and other Northern European markets). Read how we helped to unite them to strengthen their proposition and facilitate growth…
Iglo Group
Together we achieved
- Complex multi-country multi-stage carve out from Unilever to create a pan-European business operating on one platform
- Re-invigoration of the new product pipeline and rejuvenation of existing products
- Significant improvements to operational efficiency and profitability (7ppts increase in Gross Margin)
- Pan-European consolidation through the acquisition of Findus Italy
This was accomplished by
- Investing in a world class central management team, innovation and R&D capabilities, as well as marketing to support the brand equity
- Positioning the brand around the ‘Better Meals Together’ mission, focusing on the intrinsic qualities of our food such as taste and nutrition, and the importance of family meal times
- Re-launching the sustainability programme ‘Forever Food Together’, which had a strong focus on reducing food waste
- Acquiring Findus Italy from Unilever in 2011 which delivered cost synergies and strengthened Iglo’s position as a pan-European frozen food leader
The metrics
2006
Acquisition year
€1,501m
Sales at exit
2015
Exit year
184,000,000
EBITDA at entry
306,000,000
EBITDA at exit
Sales
Sales at entry - €1,211m
Sales at exit - €1,501m