Findus Spain is buying La Cocinera, a frozen meals business, from Nestle as frozen foods continue to attract investor interest.
La Cocinera, headquartered in Barcelona, makes frozen food products. The deal also includes the bran's Valladolid factory, where the products are produced. Nestle is not selling La Concinera's chilled dough-products, including obleas, puff pastry and pie dough. Terms of the deal were not disclosed. The transaction was announced Jan. 8.
Findus Spain, the Spanish subsidiary of Findus Group, sells frozen food products.
Nestle has been divesting various non-core assets, including food groups, as the company focuses more on skin care and nutrition. In July, the company sold Juicy Juice to private equity firm Brynwood Partners For more on corporations' divesting non-core assets, see Strategic Buyers Will Shed Non-Core Assets in 2015.
Other companies have also made acquisitions in both the frozen food and ethnic foods space. In one such deal, Ajinomoto paid $800 million for Quality Holdings LP, which owned the Ling Ling, Josè Olè and other brands. Before that, Tyson Foods agreed to buy Hillshire, which makes Jimmy Dean sausage products.