Nomad Holdings Limited to Appoint Stefan Descheemaeker as Chief Executive Officer

TORTOLA, British Virgin Islands, May 12, 2015 /PRNewswire/ -- Nomad Holdings Limited (LSE: NHL) ("Nomad" or the "Company") announced today the appointment of Stéfan Descheemaeker as Chief Executive Officer ("CEO"), effective upon closing of its recently-announced acquisition of Iglo Foods Holdings Limited ("Iglo Group"), which is expected to occur in the second quarter of 2015. Mr. Descheemaeker will also serve as CEO of Iglo Group, replacing current CEO Elio Leoni Sceti.

Mr. Descheemaeker will provide the strategic direction and day-to-day leadership necessary to achieve Nomad's vision of building a portfolio of best-in-class consumer food companies. Working closely with Co-Founders Martin E. Franklin and Noam Gottesman, Mr. Descheemaeker will implement Nomad's growth strategy and oversee day-to-day operations and brand initiatives at Iglo Group.

Mr. Descheemaeker's previous tenures in operational, finance, and executive roles make him a dynamic leader with a wealth of relevant industry experience. He recently served as Chief Financial Officer at Delhaize Group, a €20 billion international food retailer, before becoming CEO of its European division. In this capacity, he focused on delivering organic growth and driving cash flow generation. Earlier, as Head of Strategy & External Growth at Belgian-based Interbrew, he was responsible for managing M&A and strategy, which culminated in the merger of Interbrew and AmBev in 2004 to create the world's largest brewer. At Interbrew (and later InBev), he held operational management roles as Zone President in the U.S., Central and Eastern Europe, and Western Europe. He currently serves as a Non-Executive Director on the Board of Anheuser-Busch InBev, a position he has held since 2008. Mr. Descheemaeker holds a Master's degree in Commercial Engineering, Business School, Brussels, Belgium.

Noam Gottesman, Nomad's Co-Founder, commented, "Stéfan's background aligns with our aspirations to create a leading, global consumer foods company. He possesses a rare combination of food retailing and fast-moving consumer goods experience as well as a honed expertise in corporate M&A strategy. Martin and I are delighted to welcome him to Nomad and are confident he will be a key partner as we implement our build-up strategy. Bringing Stéfan on board at this juncture also provides for strong continuity in leadership at Iglo Group as he and Elio will work together to ensure a seamless transition."

Stéfan Descheemaeker stated, "I could not be more excited to join Nomad at the onset of its growth story. The initial investment in Iglo Group creates a solid foundation for us in the consumer foods space. Iglo Group's brands evoke a strong sense of nostalgia for me, and I am personally looking forward to working with the talented teams to promote growth and innovation in the frozen foods category."

Forward-Looking Statements and Disclaimers

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

Certain statements in this announcement are forward-looking statements which are based on Nomad's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts, including expectations regarding (i) the anticipated closing date of the proposed acquisition of Iglo Group, (ii) the anticipated effective date of the appointment and (iii) the future operating and financial performance of Nomad.  These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including (i) the ability and willingness of the parties to the definitive transaction agreement relating to the the proposed acquisition of Iglo Group (the "Transaction Agreement") to meet the closing conditions set forth therein, (ii) economic conditions, competition and other risks that may affect Iglo Group's future performance, (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the Transaction Agreement; (iv) the risk that any condition to closing of the Transaction Agreement may not be satisfied; (v) the risk that securities markets will react negatively to the transaction or other actions by Nomad, Iglo Group and the combined company after completion of the proposed transaction; (vi) the risk that the proposed transaction disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (vii) the ability to recognize the anticipated benefits of the combination of Iglo Group and Nomad and of the combined company to take advantage of strategic opportunities; (viii) costs related to the proposed transaction; (ix) the limited liquidity and trading of Nomad's securities; (x) changes in applicable laws or regulations; (xi) the possibility that Nomad or Iglo Group may be adversely affected by other economic, business, and/or competitive factors; and (xii) other risks and uncertainties. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, neither Nomad nor Iglo Group undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

About Iglo Group

Iglo Group is a leading European food company whose iconic products have been part of people's lives for over half a century. It is committed to bringing consumers great-tasting food that can be enjoyed at every meal, every day by everybody. The Group's mission is to realize its full potential to deliver Better Meals Together. The freezing process preserves the intrinsic qualities of food such as taste and nutrition, as well as providing a good platform for reducing food waste. These characteristics offer great potential for innovation, ensuring that consumers can have the best ingredients for exciting and enjoyable meals.

The Group's core brands of Iglo, Birds Eye and Findus are category-defining names synonymous with high quality, great-tasting food. The UK, Italy, Germany and Austria are the Group's largest markets, representing approximately 85% of turnover.

About Nomad Holdings Limited

Nomad Holdings Limited (LSE: NHL) is a publicly-listed acquisition company that was formed in April 2014 to undertake an acquisition of a target company. More information on Nomad Holdings Limited is available at http://www.nomadholdingslimited.com.

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SOURCE Nomad Holdings Limited

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