Aryzta confirms looking to sell 49% Picard Surgeles stake but needs approval from Lion Capital
Aryzta [VTX:ARYN], the listed Swiss food company, confirmed it is looking to sell its 49%shareholding in the French frozen food retailer Picard Surgeles, French daily L’Agefi reported. The report cited Aryzta chairman Gary McGann, speaking during the company’s annual results presentation, and saying that Aryzta's aim was to sell the stake but it may not do so without approval from its partner in Picard. Picard is majority-owned by investment fund Lion Capital, the report noted.
Aryzta said during the conference that the strategic direction of the group was defined, with a refocusing on core B2B Frozen Bakery and European Food Solutions businesses.