Nomad Foods has completed the £500m takeover of the European arm of Findus after the deal cleared the relevant anti-trust hurdles.

Findus joins Birds Eye owner Iglo Group, which Nomad acquired in April for €2.6bn to create a frozen giant with revenues of more than €2bn.

The boss of Young’s Seafood, which was not part of the deal, has vowed to redouble efforts to improve the UK business.

Young’s is the last remaining operating company in the Findus Group, which has now changed its name to Young’s Seafood International Holdings Ltd. It will continue to be backed by its existing group of investors, including Highbridge Principal Strategies, Lion Capital and Sankaty Advisors.

CEO James Hill said: “Today’s sale transaction involving Findus marks a significant, positive milestone for the European food industry and its principal stakeholders.

“Young’s Seafood is already the UK’s leading fish processor, with unparalleled expertise and track record in bringing great seafood to market, be that frozen or chilled, Young’s or retailer branded. With the Findus transaction now behind us, we shall redouble our drive for improvement in Young’s, focusing on our customers, our market share and our processing efficiency.”

The fish processor has had a tough few months following the loss of a major Sainsbury’s contract at the end of June, which accounted for about £100m of Young’s £600m revenue.

Young’s CEO Pete Ward added he was focused on building up sales, driving down costs, adapting to changes in the market and “future-proofing” the business. “We are optimistic for this new phase and, with the support of our investors, we will continue to deliver for our customers and our consumers,” Ward said.

The acquisition by Nomad, announced in August, includes Findus Group’s continental European businesses in Sweden, Norway, Finland, Denmark, France, Spain and Belgium, as well as the intellectual property and commercialisation rights to the Findus, Lutosa and La Cocinera brands. It adds 1,500 employees and six manufacturing facilities to Nomad, with the group now employing 4,300 staff in 15 countries.

“The complementary nature of our footprint and the strength of our combined brands across Europe significantly enhance Nomad’s scale and competitive offering,” CEO Stéfan Descheemaeker said. “The Birds Eye, Iglo and Findus brands have played key roles in defining the frozen food category over the past decades, and together will be better positioned to continue bringing fresh and ‘better-for-you’ meal options to consumers across Europe.”

The deal also reunites the Findus operations in Italy, which are owned by Iglo, with the rest of the group.

Nomad, an acquisition vehicle founded by US tycoons Martin E. Franklin and Noam Gottesman, was floated on the London Stock Exchange in April 2014, raising $500m (£327.2m) on the back of its ambitious plans to create a global food group.

Gottesman and Franklin said in a joint statement today: “The closing of this acquisition demonstrates our ability to successfully execute against our defined strategy. Bringing these businesses together will yield substantial synergies, which we intend to re-invest in our ongoing growth and expansion.

“As we work to build a best-in-class global consumer foods company, we are encouraged by the opportunity set and remain focused on creating value for all of our stakeholders.”