Apollo has announced that Apollo-managed funds have agreed to acquire a majority stake in Prosol Group (Prosol), the multi-specialist in fresh food businesses and food retail in France, from Ardian. Prosol’s existing shareholders and management team will reinvest alongside the Apollo funds.
Founded in 1992, Prosol has built a proprietary, vertically integrated supply chain, sourcing fresh, quality products. It operates nearly 450 stores across France under two main banners: Grand Frais, where it provides the fruits, vegetables, dairy, and fish; and Fresh, a fully owned chain of stores that sell fruits, vegetables, dairy, fish, and meat. Prosol works with over 2,300 partners to source produce.
The company’s portfolio of retail brands also includes La Boulangerie du Marché, mon-marché.fr, BioFrais, and Banco Fresco in Italy.
Apollo’s private equity business has a track record spanning more than 35 years, including experience in the retail and consumer sector. The firm has been actively investing in France for more than two decades and has about €14bn invested with French companies across its strategies. French private equity investments include Constellium, Verallia and Vallourec, while Apollo has also provided large-scale capital solutions to French corporates including Air France-KLM, EDF and TotalEnergies, among others. Atlantys Investors, founded by Jean-Luc Allavena, serves as an advisor to Apollo in France.
The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close in Q2 2026. UBS AG served as lead financial advisor to the Apollo Funds, while Royal Bank of Canada and Lazard also served as financial advisors. Sidley Austin LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP and Cleary Gottlieb Steen & Hamilton LLP served as legal counsel on the transaction.
