Who are the new Picard shareholders?
As discreet as influent, these individuals are unknown to the public but have a fair legacy of success as convenience store experts. Moez-Alexandre and Soraya Zouari, who own the eponymous Zouari company, have invested to takeover 43% of Picard Surgelés alongside the British investment fund Lion Capital LLP. In 2018, the French frozen food specialist (950 stores, sales of €1.4 billion in the last financial year) controlled 19% of the home market for frozen products. Over 20 years, this couple originating from Tunisia who met at University in Paris, have grown operations from a single Elf petrol station to become one of the main franchises of the Casino Group.