Invest Group Zouari completed the acquisition of a minority stake in Picard from ARYZTA for €156m.

Invest Group Zouari completed the acquisition of a minority stake in Picard, a French frozen foods group, from ARYZTA, a Swiss and Dublin listed food group, for €156m ($173m). "The binding offer from IGZ for our interest in Picard represents the earliest practicable opportunity to realise the maximum deliverable value for ARYZTA. On completion of this transaction, ARYZTA will realise some 85% of its asset disposal objective. The steps we have taken in 2019 have established clear foundations on our path towards stability, performance and growth," Kevin Toland, ARYZTA’s CEO.