Sources: Findus Group to absorb rival Cumbrian Seafoods

Pan European frozen food giant Findus Group looks set to acquire Cumbrian Seafoods for £1 (€1.16/$1.57) and its debt, sources said.

Lion Capital-owned Findus Group, which operates in the United Kingdom through its Young’s Seafood frozen and chilled division, looks set to absorb struggling supplier Cumbrian for £1 (€1.16/$1.57) and its debt, rumored to be around £13 million (€15.1 million/$20.4 million), a source with knowledge of the company said.

The asset value is rumored to be £6.5 million (€7.6 million/$10.2 million), the source told IntraFish.

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