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
 

comments closed

Related News

December 3, 2022

AI central to Nestle’s innovation overhaul

Food & Drink

Nestle SA has accelerated its product development process by 60% since 2016, according to the company. The faster speed to market has been achieved through a restructuring of its research and development process. Now the company is investing in various forms of artificial intelligence (AI) and machine learning to further improve its R&D process and generate better results.

December 3, 2022

Takeover on the horizon? Brenntag makes preliminary indication of interest for Univar Solutions

Food & Drink

German chemicals distributor Brenntag has confirmed potential takeover talks with US rival Univar Solutions and is understood to be debating the feasibility of a potential acquisition in the coming months. Univar Solutions confirms that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.

December 3, 2022

Cargill announces purchase of Owensboro Grain Company

Food & Drink

Cargill has announced the acquisition of Owensboro Grain Company, a soybean processing facility and refinery located in Kentucky. The purchase of the Owensboro-based company will support Cargill’s efforts to “modernise and increase capacity across its North American oilseeds network to support growing demand for oilseeds driven by food, feed and renewable fuel markets”.