A French distributor takes 43 % of Picard

New change of hand in order for Picard. Distributor of frozen food products (1.4 billion euros turnover in 1000 stores in France and a hundred abroad) will soon

A French distributor takes 43 % of Picard

New change of hand in order for Picard. Distributor of frozen food products (1.4 billion euros turnover in 1000 stores in France and a hundred abroad) will soon welcome a new shareholder, French and is an expert on the distribution. The family Zouari, which has 400 stores in the brands Monoprix, Franxprix and Leader Price, has handed over on Friday a firm offer to buy 43.3% of Picard at baker industrial switzerland Aryzta. It offers 156 million euros, in addition to 91 million euros of dividends.

If the transaction succeeds, the family Zouari will become co-owner of Picard to the sides of the fund Lion Capital (51 %), Aryzta (4.5 %) and management (of 1.2 %). It aims to increase its participation, Lion Capital wants to quit. The fund control Picard since 2010. For the French brand, it is a return to the sources. Between 1994 and 2001, it has been owned by Carrefour. The irony of history ...

Updated Date: 07 October 2019, 00:00

Kathleen Lees

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