Nomad Foods Limited - NOMD STOCK NEWS

Nomad Foods has successfully acquired Fortenova Group’s frozen food business for approximately €615 million. This acquisition is anticipated to significantly contribute to revenue growth, with mid-single digit revenue growth expected in 2021. The company maintains its guidance for Adjusted EPS at €1.50 to €1.55, despite some seasonal losses from the acquired business. The integration is projected to lead to substantial synergies, enhancing profitability and market share in new European markets such as Croatia, Serbia, and Hungary.

Nomad Foods has entered a landmark collaboration with BlueNalu to explore the introduction of cell-cultured seafood in Europe. This agreement marks the first of its kind in the region between a consumer packaged goods company and a cell-cultured seafood company. The partnership aims to leverage rising demand for sustainably produced seafood while supporting the long-term availability of healthy options. Key steps include market research, regulatory assessment, and exploring new business opportunities.

Nomad Foods (NYSE:NOMD), Europe's largest frozen food producer, has set new greenhouse gas (GHG) emissions reduction targets approved by the Science Based Targets initiative (SBTi). By 2025, the company aims for a 45% reduction in GHG emissions per ton of product produced, along with a 25% reduction in absolute terms. Additionally, top suppliers covering 80% of emissions will establish their own science-based targets. These actions are part of Nomad's ongoing commitment to sustainability and net-zero ambitions.

Nomad Foods (NYSE: NOMD) will have CEO Stefan Descheemaeker and CFO Samy Zekhout at the Barclays Global Consumer Staples Virtual Conference on September 9, 2021, at 12:40 p.m. ET. Investors and interested parties can listen to the audio webcast on Nomad Foods’ official website. As Europe’s leading frozen foods company, Nomad Foods boasts popular brands like Birds Eye and Findus, known for their high-quality and nutritious products. For more details, visit Nomad Foods.

Nomad Foods (NYSE: NOMD) reported Q2 2021 financial results showing a 1% revenue decline to €596 million and an organic revenue decline of 4.5%. However, adjusted EBITDA increased 4% to €123 million, and adjusted EPS rose 18% to €0.40. Profit for the period was €51 million. The company reiterated its 2021 guidance with revenue and adjusted EBITDA growth of 3-5% expected. A new share repurchase authorization of up to $500 million was approved, replacing the nearly exhausted previous program.

Nomad Foods Limited (NYSE: NOMD) will announce its second quarter results on August 5, 2021, before market opening. The conference call with the executive management team is scheduled for the same day at 8:30 AM EDT. This call will provide insights and discussions regarding the financial results. A live audio webcast and presentation will be accessible on Nomad Foods' investor relations website, with a replay available for two weeks post-event. Nomad Foods is recognized as Europe's leading frozen food company, featuring well-known brands such as Birds Eye and Findus.

Nomad Foods Limited announces the completion of a private offering by its subsidiary, Nomad Foods BondCo Plc, of €50.0 million in additional 2.50% senior secured notes due 2028. This offering supplements the previously issued €750.0 million notes. The net proceeds will support general corporate purposes, aimed at enhancing the company’s capital structure and liquidity position, according to CFO Samy Zekhout. The new notes will be traded on the Euro MTF market of the Luxembourg Stock Exchange.

Nomad Foods announces that its subsidiary, Nomad Foods BondCo Plc, has priced a private offering of €50 million in additional 2.50% senior secured notes due 2028. This offering is a tack-on to a previously issued €750 million in senior secured notes. The Additional Notes will be guaranteed by the Company and some subsidiaries, and they are expected to trade on the Euro MTF market in Luxembourg. The expected closing date is July 9, 2021, but completion is subject to market conditions. The offering does not constitute an offer to sell in the U.S.

Nomad Foods Limited has announced the pricing of €750 million in senior secured notes due 2028, with an interest rate of 2.500%. The proceeds will refinance existing debt and support the acquisition of Fortenova Group's Frozen Food Business. The company is also refinancing a €553 million senior secured term loan and upsizing its revolving credit facility to €175 million. The Refinancing is set to close on June 24, 2021, pending customary conditions. The Notes will be senior secured obligations guaranteed by Nomad Foods and its subsidiaries.