Apollo-managed funds completed the acquisition of a majority stake in Prosol Group from Ardian, Apollo Global Management announced.

Prosol, founded in 1992, is a multi-specialist in fresh food businesses and food retail in France with a vertically integrated supply chain. The company operates and supplies nearly 450 stores under the Grand Frais and fresh banners. Chief Executive Officer Jean-Paul Mochet will continue to lead the business.

Existing minority shareholders and the management team reinvested alongside the Apollo Funds, retaining an interest in the company.

UBS AG served as lead financial advisor to the Apollo Funds. Royal Bank of Canada and Lazard also provided financial advice. Legal counsel included Sidley Austin LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Cleary Gottlieb Steen & Hamilton LLP.