Nomad Foods Limited (NHL, Financial) owns Iglo Foods, Europe’s leading frozen-food company. Nomad gave back some of its second-quarter gains as its business remained challenging as a result of discounting and more private label competition. To grow, Nomad continues to acquire, recently purchasing Findus, a European seafood and frozen food business. We think Findus overlaps nicely with Iglo’s products and geography, presenting the potential for significant synergies for Nomad, and we retain conviction in the company. (David Goldsmith)
From Baron Funds' Baron International Growth Fund shareholder letter for third quarter 2015.
