Bulletin: Group Of Butchers' New Minority Owner Seen As Credit Neutral

This report does not constitute a rating action. MADRID (S&P Global Ratings) Oct. 17, 2023--S&P Global Ratings said today that the new ownership structure for Netherlands-based Group of Butchers, also known as Artisan Holdco B.V. (B/Stable/--), will not affect its ability to execute its expansion plan. Private equity firm Apollo has agreed to take a minority interest investment in Artisan Holdco and its subsidiaries. We view the transaction as credit neutral. Group of Butchers, a private label meat producer, aims to expand into adjacent countries within Europe, and adjacent product categories within meat processing, by making use of organic growth opportunities and small-to-midsize acquisitions. Parcom, a private equity firm and the majority owner of Artisan Holdco, completed a sale-and-purchase agreement

...October 17, 2023 This report does not constitute a rating action. MADRID (S&P Global Ratings) Oct. 17, 2023--S&P Global Ratings said today that the new ownership structure for Netherlands-based Group of Butchers, also known as Artisan Holdco B.V. (B/Stable/--), will not affect its ability to execute its expansion plan. Private equity firm Apollo has agreed to take a minority interest investment in Artisan Holdco and its subsidiaries. We view the transaction as credit neutral. Group of Butchers, a private label meat producer, aims to expand into adjacent countries within Europe, and adjacent product categories within meat processing, by making use of organic growth opportunities and small-to-midsize acquisitions. Parcom, a private equity firm and the majority owner of Artisan Holdco, completed a sale-and-purchase agreement with Apollo in October 2023. Under the deal, which has the support of other shareholders, Parcom transferred 100% of the share capital in Artisan Holdco to a new fund,...

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