Yorkshire pudding maker Aunt Bessie’s to be sold to Birds Eye owner in £210m deal

Frozen foods maker Aunt Bessie’s is to be sold to the food giant behind Bird’s Eye and Findus in a £210m deal.

Feltham-based Nomad Foods, which is listed on the New York Stock Exchange, says the acquisition of the brand from William Jackson & Son will expand its footprint in the UK adding to its Birds Eye brand.

Aunt Bessie’s, based in Freightliner Road in Hull employing around 400 staff, is known for its Yorkshire puddings and frozen potatoes.

For the year ended April 2018, Aunt Bessie’s generated revenues and adjusted EBITDA of around €123m (£107.8m) and €23m (£20.2m) respectively.

The transaction is expected to be completed during the third quarter of 2018, subject to certain closing conditions including obtaining any necessary regulatory approvals.

Nomad said the combination of Aunt Bessie’s, Birds Eye and recently acquired Goodfella’s is expected to result in a “highly complementary portfolio with significantly enhanced scale, greater diversification and more resources to accelerate category growth”.

Stefan Descheemaeker, Nomad Foods’ chief executive, said: “We are excited to welcome Aunt Bessie’s to Nomad Foods. Aunt Bessie’s iconic brand, positive values and strong product credentials align well with our existing portfolio. As our second accretive acquisition in 2018, Aunt Bessie’s represents another step toward our goal of transforming the frozen food category and building a portfolio of best-in-class food brands. Aunt Bessie’s significantly expands our presence within potatoes, one of the largest categories in frozen food, while adding another dimension to our growing portfolio in the United Kingdom.”

Credit Suisse acted as financial advisor and Norton Rose Fulbright acted as legal advisor to Nomad Foods on the transaction.

Stamford Partners acted as financial advisor and Addleshaw Goddard acted as legal advisor to William Jackson & Son on the transaction.