It was nearly exactly three years ago – on April 21, 2015 – when a massive new player entered the frozen seafood industry. It was a group whose name we hadn’t heard before, but one everyone in this industry would get to know: Nomad Foods.

Formed by two consumer goods tycoons a year earlier, Martin Franklin and Noam Gottesman, its goal was clear from the beginning: to build a “global consumer brands business.”

Trawling through Nomad’s 2017 investor presentation this week, and seeing some of the frankly very impressive figures, I have the feeling it's on the right track.

As of the end of its financial year, Nomad had a 14 percent market share in the Western Europe savory frozen food market, leaving behind the likes of Dr. Oetker, Nestle and McCain.

According to Euromonitor data, which Nomad cited in its report, this market has a total retail sales value of around €25 billion ($30.8 billion).

Turnover for the year hit nearly €2 billion ($2.4 billion). Fish made up 40 percent of overall revenues.

In the branded frozen seafood segment Nomad is the undisputed leader in 11 out of 13 markets in which it has a presence with competitors Findus, Iglo and Birds Eye.

How did it get there so quickly?

The company deployed a very aggressive acquisition strategy for starters. CEO Stefan Descheemaeker spelled out the strategy in an exclusive interview he gave my IntraFish colleague Dominic Welling in July 2015, shortly after he took over from former CEO Elio Leoni Sceti: Growth will come partly through mergers & acquisitions (M&As).

Findus targets 'trendy British vibe' at French consumers

He kept his word. In 2015, Nomad snapped up the Continental European Findus Group Businesses from LionGem Sweden 1 AB. This move brought together Europe’s two leading frozen food producers under one umbrella.

In January, there was the acquisition of Green Isle Foods -- which includes the Goodfella’s Pizza and San Marco brands -- from 2 Sisters Food Group, a subsidiary of Boparan Holdings.

Don’t get me wrong, acquisitions are not the only key to Nomad's success.

The company, actually, underwent massive turmoil initially, with a long-lasting and major management reshuffle, and lackluster earnings and sales across its main European markets especially in 2016.

But a more centralized group strategy, strategic innovation and marketing, as well as the move across the pond into North America’s retail market, set the course for more stable results.

Nomad describes itself as a group with a “portfolio anchored by three power trends” and “with a rich heritage,” which uses “powerful icons with strong brand awareness.”

Its investor presentation states there is room to grow in new and existing categories, which include the €4.5 billion ($5.5 billion) Western European seafood market.

Its growth strategy, it said, is “rooted in relentless focus on the core,” coupled with a stronger focus on digital advertising capabilities.

It will also keep “building an innovation pipeline behind key macro trends” such as shorter meal times, snacking, convenience and health food.

Nomad Foods profit up 31% in Q4

Nomad also plans to evolve with changing consumer shopping habits, such as the explosion of e-commerce, increasing presence of brands at discounters, large store re-invigoration and the increase of shopping trips for the average consumer.

Long-term, it sees a growth opportunity of 20 percent for its EBITDA margin -- an ambitious goal.

And acquisitions will most likely also play a role in the future.

Nomad still has to prove it can deliver on its strategy. But its big entrance into the frozen seafood industry has contributed to the new stability we’re seeing in frozen whitefish in particular.

It’s been a blast following the roller coaster ride Nomad began nearly three years ago. I’m looking forward to seeing more of it.

Comments? Email me at elisabeth.fischer@intrafish.com

Twitter: EF_IntraFish