Findus Group Buys Lutosa Retail Brand

Findus Group, one of Europe’s leading frozen food producers, has announced the expansion of its operations into Belgium on February 27, via the acquisition of the Lutosa branded retail business.

Lutosa produces French fries and speciality potato products, accounting for approximately 15 per cent of the Belgian retail market for frozen potatoes, according to the acquisition announcement issued by Findus Group. Among the specialties produced by Lutosa are potato wedges, croquettes and rösti as well as French fries.

The brand is “a small but important acquisition” for the frozen food giant, which provides a significant platform and presence in Belgium.

Lutosa offers synergies with Findus Group’s operations in the adjacent market of France.

Findus Group’s approach to Belgium, with the acquisition of a local brand’s license with the strategy of eventually rebranding to Findus, mirrors the Group’s 2011 expansion into Spain via the acquisition of the Frudesa and Findus brands there.

“We are determined to grow our business and this acquisition gives us two new ways to do so: we can bring our broader expertise into the Belgian market and we can leverage the famed qualities of Belgian potatoes and frites elsewhere,” said James Hill, Findus Group CEO.

Lutosa had been previously owned by the PinguinLutosa Group and was sold by McCain as a condition of European competition authorities’ clearance for that group’s acquisition by McCain, due to an "overlap" between the two businesses, particularly in frozen French fries.