Frozen food retailer Picard Surgeles has been acquired by private equity firm Lion Capital from BC Partners for €1.52bn (£1.27bn). The completion of the deal follows approval by the European regulatory authorities at the beginning of the month. The takeover price included €590m (£494m) in cash, while the remaining funding was raised with a credit facility and bond issue, French daily Le Figaro reported. Picard operates 820 stores and generated sales of more than €1.1bn (£981m) last year.
Related articles
AnalysisData: Supply chain challenges start to ease as grocers step up to feed the nation
The enormous efforts made by grocers and their supply chain partners over the past week are helping to bring stock levels under control. Over the last two to three days in particular, the situation has shown signs of easing, according to the latest availability figures from Edge by Ascential.
- News
Morrisons to give £10m to food banks during coronavirus crisis
Morrisons is to dish out £10m of food to food banks across the UK during the coronavirus crisis by ramping up production from its own manufacturing sites.
- Opinion
Richard Walker: Coronavirus has brought out the best in retail
It feels like we have suddenly stepped into a parallel universe, where none of the normal conventions that have framed our lives apply.
Advertisement
More International
- Analysis
Analysis: Chinese etailers’ awe-inspiring coronavirus reaction
The coronavirus outbreak has sparked fears and headlines worldwide since emerging in the Chinese city of Wuhan at the start of the year.
- News
Retailers pledge donations in fight against Australian bushfires
Several retailers have pledged money to the appeal to support those fighting the devastating bushfires in Australia.
- Opinion
Opinion: Look to Asia for how to build online sales
It might be assumed that the ceiling has been reached for online FMCG sales, but that assumption falls wide of the mark.
No comments yet