Analysts ramp up pressure on Aryzta over Picard plans
Company bought a 49 per cent stake in Picard for €450 million last year
Pressure is building on the Irish-Swiss food group Aryzta to abandon plans to acquire the remaining stake in a French frozen food supermarket chain.
The company, which owns the Cuisine de France brand, last year bought a 49 per cent stake in Picard for €450 million. It has the option to acquire the remaining shares in 2019. But Aryzta has struggled to return its core business to growth and, in the last number of months,...
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