Sector News

Aryzta to pay €446.6m for stake in Picard

March 31, 2015
Food & Drink
Swiss-Irish bakery group Aryzta is set to buy a 49pc stake in France’s Picard group worth almost €450m.
 
The company said it has entered into exclusive negotiations for a strategic investment with Lion Capital in speciality premium French food business Picard.
 
Under the terms of the agreement, Aryzta would acquire a 49pc shareholding in Picard for €446.6m.
 
Aryzta will have the right to exercise a call option in three to five years to acquire 100pc of Picard.
 
The company recently made over €400m from the sale of part of its stake in Irish food and agribusiness group Origin Enterprises.
 
By Paul O’Donoghue
 

Related News

September 21, 2020

Alpro announces 30m euro investment and new sustainability goals

Food & Drink

Alpro has unveiled a new five-year health and sustainability action plan, as well as plans to invest €30m in two of its production sites. The objectives laid out by the company, […]

September 18, 2020

Cargill to advance regenerative agriculture practices across 10m acres of farmland

Food & Drink

Cargill has announced that it is supporting farmer-led efforts to adopt regenerative agriculture practices on 10 million acres of crop land in North America by 2030. The initiative will focus primarily […]

September 17, 2020

PepsiCo pilots invisible digital watermark technology to boost recycling

Food & Drink

PepsiCo is trialling products encoded with invisible digital watermarks for more effective recycling. The technology is pegged as the “holy grail” that will make mechanical sorting more efficient. The beverage […]