Press Release: Mergers: European Commission clears proposed acquisition of French retailer Picard by Lion Capital

The European Commission has approved under the EU Merger Regulation the proposed acquisition of sole control over Picard Groupe, which operates a retail distribution network for frozen food in France, by Lion Capital LLP, a UK private equity investor. One of Lion Capital's portfolio companies, Findus, is active in the supply of frozen food to the retail sector. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.