Clifford Chance and Skadden latest winners in wave of food deals

Nomad Food’s move for Birds Eye owner Iglo is the latest in a spate of food deals, mostly taking place in the US, that include the multimillion-dollar acquisition of Kraft Foods in March.

Iglo is headquartered in the UK and controls a 30 per cent share of the European frozen food market. It’s an attractive high-turnover, lower tax option for global consumer brands business Nomad, which is expected to pay €2.6bn (£1.87bn).

Iglo’s owner Permira turned to Clifford Chance and Skadden on the sale. The private equity firm will retain a 9 per cent stake in the company.

Greenberg Traurig is advising Nomad on the acquisition.

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