Successful closing of the acquisition of 100% of the French group “Picard Surgelés” by Invest Group Zouari

Work highlight

24-01-2025

2 minutes read

We advised the joint venture composed of Zouari Group, investing via the investment vehicle Invest Group Zouari (IGZ), and Intermediate Capital Group (ICG), on the acquisition of the entirety of the majority stake in the French group “Picard Surgelés” – a pioneer in the frozen food industry - from their existing co-shareholder, Lion Capital. This acquisition resulted in IGZ owning 100% of “Picard Surgelés."

Our corporate team provided Luxembourg transactional assistance in connection with the closing of the transaction.

Zouari Group is a significant investor in Tunisia's economic landscape, and has recently expanded its operations in France, particularly in trade and industry.

ICG is a global leader in alternative asset management, providing flexible and sustainable solutions to both providers and users of capital.

Picard Surgelés remains a pioneer in the frozen food industry, having introduced the concept of quality frozen food to the French market and continued to innovate in this sector.