Thanks in part to a recent capital raising, European frozen foods giant Nomad Foods, which holds the Birds Eye, Iglo and Findus brands, is now sitting on €750 million ($842 million) in cash, which executives intend to use for future mergers and acquisitions.
"We will be selecting those on the basis of the financial returns that they will deliver," CEO Stefan Descheemaker told analysts during the company's conference call.
Descheemaeker highlighted the performance as he outlined the company's ninth sucessive quarterly reporting period of "organic growth" that he attributes to investment in the Bird's Eye brand in the UK, Iglo in continental market, as well as Findus lines.
