Apollo Funds in Majority Investment in Prosol Group

Cleary Gottlieb is advising funds managed by Apollo (Apollo Funds) in their acquisition of 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 differentiated itself by building a proprietary, vertically integrated supply chain, sourcing fresh, quality products resulting in a highly loyal and fast-growing customer base. Prosol 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.

The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close in Q2 2026.

The Cleary M&A team included partner Charles Masson, and associates Joseph Destribois, Nathan Ollive, and Gabriel Gautrin. Partner Anne-Sophie Coustel and senior attorney Benjamin Boisanté advised on French tax matters. Counsel Jérôme Hartemann advised on labor matters. Partner Valérie Lemaitre and associates Bilal Boudouda, Yousra Lemdilki, and Essinam Mazna advised on financing matters. Partner Séverine Schrameck, senior attorney Francesco Iodice, and associate Pauline Bruant advised on regulatory matters. Associate Marianna D’Angelo advised on Italian corporate matters. Partner Gareth Kristensen and associates Prudence Buckland and Amy Garland advised on intellectual property matters.