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Frozen Foods International News
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| France's Picard May Be Up for Grabs |
Picard Surgeles, the French frozen food retailer, may be up for
sale. BC Partners Ltd., manager of a 5.8 billion-euro ($7.2
billion) private equity fund that acquired the chain six years
ago, is said to have hired Rothschild to look into the matter.
Insiders sat BC, which paid 1.3 billion euros for Picard in 2004,
is putting the value at about 1.5 billion euros this year. Based
in Fontainebleau, the chain has 813 outlets in France and markets
frozen food under its own brand. BC is said to be preparing to
sell Picard and return cash to investors before it starts raising
a 6 billion-euro leveraged buyout fund in the second half of this
year.
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| 24-May-10 |
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