Frozen food brand Findus is conducting a review of its business across Europe with a view to restructuring the company. The review is due to be completed over the next six weeks, with changes coming into effect from the start of next year.
Some industry insiders claim that the review could lead to the brand pulling out of the UK, but European marketing director Suzanne Nagle denies that the company has any plans to withdraw the brand or close its UK offices. She says that the restructure is part of a continuing review and that it is prudent for any brand to reappraise its position on a regular basis.
It is understood that Findus will review its marketing strategy and implementation, but Nagle has ruled out centralising its resources. She also says that the company is not reviewing its agency arrangements.
The decision to review the brand comes just two months after Unilever announced plans to relaunch the category-leading Birds Eye brand across Europe next year (MW September 11). It is currently reviewing Birds Eye’s 115 brands and &£60m advertising business. Incumbent McCann-Erickson, Bartle Bogle Hegarty, Abbott Mead Vickers.BBDO and J Walter Thompson have been shortlisted for the ad account.
Findus, which is owned by venture capitalist EQT Partners, has a number of products in the UK, including frozen pasta brand Pasta Presto, Crispy Pancakes and the Wok stir fry range. It relaunched its healthy-eating brand, Lean Cuisine, earlier this year.