ARYZTA completed the acquisition of a 49% stake in Picard from Lion Capital for €446m.

ARYZTA, a producer and retailer of specialty bakery products, completed the acquisition of a 49% stake in Picard, a French food company specializing in the manufacture and retail distribution of frozen products, from Lion Capital, a private equity firm that specializes in investments in the consumer sector, for €446m. “The investment in Picard is consistent with ARYZTA’s strategy of consumer relevancy through diversifying markets and channel positioning. Picard has delivered consistent revenue, EBITDA and market share growth over the past forty years. It offers ARYZTA the future potential to acquire a highly successful business-to consumer platform focused on premium speciality food, which complements ARYZTA’s business-to-professional platform. Picard is a highly predictable business and an ideal replacement for ARYZTA’s Origin holding, allowing ARYZTA to strategically move up the value chain. We are delighted to partner with Lion Capital, a private equity firm with a leadership position in branded consumer goods and retail,” Owen Killian ARYZTA CEO.