Aryzta Completes Disposal of Majority Stake in Picard
January 27
16:07
2020
Aryzta, the Switzerland-based global speciality bakery business, has completed sale of its majority stake in Picard, a speciality premium French food business, to Invest Group Zouari for a total consideration of €156 million. Aryzta retains a 4.5% shareholding in Picard, to be monetised at a later stage.
The proceeds of the transaction will be applied to debt reduction. Aryzta first acquired 49% of Picard for €446.6 million in 2015.
Headquartered in Schlieren, Switzerland, Aryzta has operations in North America, South America, Europe, Asia, Australia and New Zealand. It has a primary listing on the SIX Swiss Exchange and a secondary listing on the Euronext Dublin (ISE).
