Iglo Group has been acquired by London-listed Nomad Foods for €2.6 billion ($2.8 billion), the groups announced Monday.
Martin E Franklin and Noam Gottesman, the consumer goods tycoons that set up Nomad a year ago, agreed to take over Iglo from private equity group Permira.
The deal will be primarily funded in cash. Permira will still continue to retain a 9 percent stake in the company.
Iglo will be valued at about 8.5 times earnings before interest, taxes, depreciation, and amortization (EBITDA), according to people involved in the deal.
The
