Part of stomach and seed growth in menu Picard
Sell Picard Frozen wants to seduce his prospective buyers by promising a steady pace of store openings in France, increased its "share of stomach" by the customer and the "seeds of growth" that could include plant in Sweden .
Estimated at around half a billion euros, the French leader in frozen, advised by Rothschild, must convince the private equity funds that focus on the record already with over 850 stores under his belt and a number Business of 1.15 billion euros in 2009, the best in terms of growth is still to come.
Among potential buyers, the names of investment companies as HVAC, Lion Capital, Bain, Eurazeo or Clayton Dubilier & Rice are cited.
The current majority shareholder, the fund BC Partners, has entered the capital in 2004 when the group had almost 600 stores.Some analysts doubt that the expansion of the group, whose range of products ranging from frozen vegetables for basic dishes upscale, can continue indefinitely.
The CEO of the group receives for his part no signs of market saturation frozen.
"There is still potential for more than 300 stores in France", or growth for seven or eight years at the current pace of opening, said in an interview with Reuters Philip Pauze.
The former executive director of Carrefour said they did not fear the "cannibalization" of sales from its stores – unlike what happened for example to the Starbucks cafe – thanks to extensive studies of "geo-marketing.
If the sign to flake advantage in France of a comeback of local shops, it also faces competition from large retail groups such as Carrefour's former owner, who reinvest the inner city through small surfaces.
SHARE OF STOMACH
"We want your food to make purchases at more than Picard in a supermarket at the fish that the local baker or your neighborhood because our competitors were also artisans," says Philip Pauze who should win the "shares stomach "for its customers and ensure the growth of existing stores.
Philip Pauze is currently facing many funds to mount the third LBO (leveraged buyout) in the history of Picard, but already the arguments he rode will expand to fit the fourth in a few years.
"The strategy in the next three years is to continue to develop in France while planting seeds abroad that will generate buzz for the fourth LBO (leveraged buyout)," said he, Assuming that Picard could eventually attract a large distribution group or a multinational agribusiness.
The key to this new step would be to prove that the group can export its model abroad and in several countries.
For if the mark has become essential in urban France, some professionals are questioning his ability to conquer rural areas and especially the rest of Europe.
The company wants to continue its development in Italy where it has 30 stores and aims Turin, Milan and also Rome, "a city that consumes a lot of frozen.
The refrigeration specialist has chosen the North of Europe as a new stage of its expansion and more specifically Sweden, because of the palace "refined" its consumers.
"It is a good market to take more, even if there are not many people, there are 50-60% higher than consumption in France in the frozen," enthuses CEO evoking consumption "huge" country's ice.
Belgium is also seen as a natural market, especially in Wallonia and Brussels, but the market size is limited to the group that there could still open a few stores.
Picard could also try to find their way into North America, with priority given to Canada, because of existing cultural links with the six million French-speaking countries.
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