CONTENTS PAGE

1. EXECUTIVE SUMMARY 2
2. INTRODUCTION 2 2.1 Picard overview 4

2.2 Picard´s corporate strategy 5

2.3 SWOT analysis 6

3. PEST ANALYSIS 6
4. PORTER´S FIVE FORCES Analysis of entering the UK Market 7
5. CONCLUSION 11
6. BIBLIOGRAPHY 12
7. APPENDICES 13

1. EXECUTIVE SUMMARY

The aim of this report is to analyse Picard´s market performance as well as challenges in its operating market using the PEST analysis tool, in order to identify if the company has prospects of entering and succeeding in the UK based on Porter´s five forces model.

Picard is a French frozen food retailer focusing exclusively on its own brand product lines. The company has grown to be France´s leading frozen food
Chart 1: Manufacturer´s frozen market share

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Source: Kantar Worldpanel. Data to 12th June 2011

Chart 2: Retailer frozen market share

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Source: Kantar Worldpanel. Data to 12th June 2011

Combining the growth in the frozen food market, the over performance of private label and the trend towards convenience, this research will focus on this particular market sector and analyse Picard, a premium French frozen food retailer, and its potential to expand internationally into the UK.

1. Picard overview

Picard is a limited company (SA) owned by Lion Capital, a private equity investment firm, and it is today the number one frozen food retailer in France, with a product range that covers over 1,100 SKUs across nine product categories, from starters to desserts and from raw ingredients to prepared meals. Picard has distinguished itself through a commitment to high quality and innovation with over 98% of its products developed in-house exclusively for the company, and sold under the Picard brand. Picard also has retail stores in Italy and offers a home delivery service from Internet shopping and telephone orders to other countries such as Luxemburg, Belgium and Spain.