Picard Surgelés

On 14 of October, BC Partners completed the disposal of Picard Surgelés ("Picard") to Lion Capital.

Picard is one of the leading specialised retailers in the French frozen food market, selling a very wide range of product references through a network of 820 retailing outlets. The company has posted an impressive track record of financial performance in France over the last twenty years through strong and resilient like-for-like sales growth and rapid expansion of its store network. The company also operates outlets in Italy and recent openings in this country are promising.

Headquartered Issy-les-Moulineaux near Paris, the Group employs more than 4,000 people and has generated revenues of €1.1bn in its last fiscal year.

Canaccord Genuity acted as the financial advisor of Picard and its management in order to assist them on the strategy and tactics during the transaction as well as to structure their reinvestment alongside the buyer.