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Acquisitions Goodfella's (Tables) | 9 Months Ended
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Sep. 30, 2019
Disclosure of detailed information about business combination [line items] |
Disclosure of detailed information about business combination [text block] | Acquisitions (a) Goodfella’s Pizza On April 21, 2018, the Company completed its acquisition of all of the share capital of Green Isle Foods Limited (“Goodfella’s Pizza”) for £209.7 million (€239.0 million), including post-acquisition working capital and net debt adjustments. Goodfella’s Pizza (legal entity subsequently renamed Birds Eye Pizza Limited), is a pizza producer based in Ireland that complements our existing business model. The purchase price allocation exercise over the assets and liabilities of Birds Eye Pizza Limited at the date of acquisition and the consideration paid, was finalized on April 20, 2019 without any changes to the provisional estimates reported as at December 31, 2018. These were as follows:
| April 21, 2018
| €m
Assets: |
Intangible assets | 158.0 |
Property, plant and equipment | 33.2 |
Current assets | 7.5 |
Inventories | 10.7 |
Deferred tax assets | 0.9 |
Total assets | 210.3 |
Liabilities: |
Current liabilities | 31.2 |
Deferred tax liabilities | 22.6 |
Total liabilities | 53.8 |
Total identifiable net assets acquired | 156.5 |
Total purchase consideration | 239.0 |
Total identifiable net assets acquired | (156.5 | )
Goodwill | 82.5 |
Goodwill recognized on acquisition is €82.5 million, attributable mainly to the growth prospects for the business expected organically and operational synergies.
| €m
Balance at January 1, 2019 | 79.4 |
Release of indemnification asset | (44.0 | )
Balance at September 30, 2019 | 35.4 |

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