The Paris Private Equity team advised the British fund, Lion Capital, on the signing of a put option agreement for the acquisition of its entire majority stake in the Picard Surgelés group by the investment firm Invest Group Zouari.
This operation will allow Invest Group Zouari, controlled by the Zouari Family Office and supported by its financial partner ICG, to acquire full ownership of the frozen food specialist, holding 100% of its capital.
Lion Capital, a key shareholder since 2010, has played a key role in driving the group's growth, making it an undisputed leader in the French market. Today, the brand operates in Europe, the Middle East, and Asia, with approximately 1,185 stores, 4,500 employees, and annual revenues of €1.7 billion.
The completion of the transaction is subject to the legal requirement to inform and consult the company's employee representative bodies, as well as to obtain necessary regulatory approvals. It is expected to close in the first quarter of 2025.
The Goodwin team, a long-standing advisor to Lion Capital, was led by Thomas Maitrejean, Simon Servan-Schreiber, and Pauline Louis on corporate aspects, Frédéric Guilloux and Laurent Bonnet on financing aspects, and Marie-Laure Bruneel on tax aspects.