Lion Capital to acquire Picard Surgelés for €1.5bn

The private equity house, which already owns the Findus Group (apart from its Italy division, recently sold to Permira by Unilever), has significantly upped its offer over the weekend to secure the deal. CVC, Clayton Dubillier and Eurazeo were also on the line to snatch the 810 store chain.

The deal marks the third private equity buyout for Picard. Candover, Chevrillon & Associés, Astorg and HSBC Private Equity had bought it from retailer Carrefour in 2001, for €920m. BC Partner then acquired a 71% stake in 2004, for €1.3bn (12x the company's EBITDA at the time).

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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