April / May 2001

Carrefour sells frozen food subsidiary Picard

01 April 2001

Carrefour - reportedly Europe’s largest retailer - is selling its 74 per cent stake in its frozen food subsidiary Picard Surgelés to a Franco-British investment consortium. The consortium is led by London-based Candover and Paris-based Chevrillon et Associés. Picard’s other shareholders are also selling up, again to the consortium, for £585 million.