PAI Partners, a european private equity firm, completed the acquisition of a majority stake in Euro Ethnic Foods, the company which owns and operates the grocery section of food retailer Grand Frais, for $720m. “We have built EEF, and more broadly Grand Frais, on strong values, convinced that consumers expect more transparency from distributors regarding their products. Today, we believe more than ever that EEF and Grand Frais retain considerable growth potential. That is why we have chosen a pan-European partner with long-standing experience and recognised expertise in the sector to help to further expand the business and to seize the best future development opportunities for EEF, Grand Frais and the group’s wider ecosystem,” Léo and Patrick Bahadourian, EEF founders and Grand Frais co-founders.