Deals this week: Nomad Foods BondCo, Grandma Magdas, Snackible
Frozen foods producer Nomad Foods BondCo (NFB) intends to raise €500m ($531.59m) through a senior secured notes offering due 2024.
The proceeds from the offering will be used by the company to refinance its existing outstanding term loans and floating rate senior secured notes due 2020.
In a Skr1.35m ($0.149m) deal, ice-cream maker Mormor Magdas Darproducerade Mat Och Glass (Grandma Magdas) has agreed to sell its assets and liabilities to ExeoTech Invest.
The transaction includes a cash payment of approximately Skr0.9m ($0.09m), while the remaining will be amortised over five years. Grandma Magda will also receive a 2.5% loyalty on all the products sold under its brand name for seven years.
The target company will become part of Hagen Baltic (Baltic Hagen Glass) upon completion of the acquisition.
In an angel round funding, Indian snack foods maker, LightSaberFood Ventures (seller of Snackible brand snacks), has raised Rs11.2m ($0.175m), which will be used to expand its operations in the country as well as abroad.
The company also plans to expand its marketing operations and manpower across verticals.
Snackible also plans to raise between $2m and $5m in a Series A funding round by the end of 2017 fiscal.