Leveraged finance bankers are preparing for another glut of buyouts in the food and drink sector, the most popular deal sector this year.

Private equity companies are readying bids for Picard Surgelés, the frozen foods business of Carrefour, Europe's second largest retailer. Rothschild is advising Carrefour and organising the sale, which is expected to fetch €1bn ($830m). The supermarket giant is spinning off Picard to concentrate on its main retailing business and hypermarkets.