By Jonathan Davies

The owners of the Birds Eye have agreed a deal to sell the frozen food brand to US investors.

Birds Eye's parent group, Iglo, will be bought by Nomad Holdings for €2.6bn (£1.9bn). Nomad was set-up last year to create a global consumer brands company.

Birds Eye was founded after American explorer Clarence Birdseye discovered the effects of preserving food by freezing it. Captain Birds Eye became a staple part of its marketing campaigns, but was dropped from its adverts by Iglo last year.

Permira, Birds Eye and Iglo's current owners, will hold a 9% stake in the company after the deal is complete. It's not the first time Permira has tried to sell the company. It tried in 2012, but offers did not meet the asking price.