ARYZTA AG completed the acquisition of 49% stake in Picard Groupe S.A.S. from Lion Capital LLP.
August 19, 2015 at 09:30 am IST
Share
ARYZTA AG (SWX:ARYN) signed an agreement to acquire 49% stake in Picard Groupe S.A.S. from Lion Capital LLP for approximately 450 million on March 31, 2015. The deal is largely funded with the net proceeds from the Origin placement. ARYZTA would have the right to exercise a call option in three to five years to acquire 100% of Picard. ARYZTA will have two seats on the Picard board. The acquisition is subject to antitrust and regulatory approval. Picard will consult its works council in connection with the investment. As on August 10, 2015, the transaction was approved by the European Commission. Rothschild acted as financial advisor and Maxence Bloch, Thomas Maitrejean, Simon Servan-Schreiber, Augustin Fleytoux, Charlotte Cloix, Olivier Vermeulen, Adeline Tieu-Roboam, Tereza Courmont-Vlkova, Fanny Combourieu and Gwenaël Kropfinger of King & Wood Mallesons acted as legal advisors for Lion Capital.
ARYZTA AG (SWX:ARYN) completed the acquisition of 49% stake in Picard Groupe S.A.S. from Lion Capital LLP on August 19, 2015.
Aryzta AG is a Switzerland-based company engaged in food business. It is primarily focused on specialty baking. The Companyâs products include Artisan Breads, Sweet Baked Goods and Morning Goods, as well as an array of other Savoury Items, Such As Pizza, Tarts and Pies. It operates through four segments, including Food Europe, Food North America, Food Rest of World and Origin. Food Europe segment includes the specialty bakery market in Switzerland, Germany, the United Kingdom, Ireland, France, Spain, Sweden, Poland and Denmark. Food North America segment includes the specialty bakery market in the United States and Canada. Food Rest of World segment consists of businesses in Australia, Asia, New Zealand and South America. Origin segment is a agri-services group focused on integrated agronomy and agri-inputs in the United Kingdom, Ireland, Poland and Ukraine. The Companyâs customer channels consist of a mix of retail, convenience and independent retail, Quick Serve Restaurants.