Nomad Foods is Europe's largest branded savory frozen food company, operating across 15 European countries. Its core products are fish (fish fingers, coated fish, natural fish), vegetables (peas, spinach), meals (lasagna, pasta, noodles), and poultry (chicken nuggets, grills, burgers). Fish alone accounts for roughly a third of revenue. Nomad also sells frozen pizza, ice cream, and other products. Nomad sells primarily through large grocery retailers — supermarkets and discounters — with key customers including Tesco, Asda, and Sainsbury's in the UK, and Rewe and Edeka in Germany. Nomad also has a small foodservice channel (~8% of sales) selling to schools, hospitals, and canteens. Nomad makes money by selling branded frozen food at a premium to private label, with economics driven by volume, price/mix, and gross margin. Input costs — particularly fish, chicken, and vegetables — are volatile, and Nomad hedges by locking in raw material prices up to a year in advance. A key operational risk is the timing mismatch between input cost inflation and annual retailer pricing negotiations. Nomad manufactures ~78% of its volume in-house across 17 factories. Nomad's growth strategy focuses on product renovation and innovation, geographic expansion via a "lift and launch" model, and a multi-year €200M supply chain efficiency program, with savings reinvested into advertising and product quality. Nomad prioritizes share buybacks and dividends over M&A.