Panzani and Cerealis Join Forces to Create a Major European Food Group
- On Friday, Panzani Group and Cerealis entered exclusive negotiations to combine, aiming to create an independent, diversified European food business backed by founding families, Sofina, and CVC Capital Partners.
- Leveraging complementary product portfolios, the combination joins Panzani's established French pasta and sauce operations with Cerealis' presence across Portugal, Spain, and Central Europe, spanning breakfast cereals and biscuits.
- With an enterprise value of approximately €1.8 billion, the combined group would generate approximately €1 billion in consolidated annual revenues and employ nearly 1,800 people, establishing a major European food business.
- Both companies will maintain a decentralized operating model; Panzani remains headquartered in Lyon under Chief Executive Officer Albert Mathieu, while Cerealis stays in Porto under Chief Executive Officer Paula Meireles.
- Backed by founding families, Sofina, and CVC Capital Partners, the transaction remains subject to regulatory approvals and mandatory consultation with relevant employee representative bodies before completion.
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With revenues of EUR 400 million Cerealis can join the French company, whose turnover already reaches EUR 620 million.
Panzani, leader of dry pasta in France, could go under Portuguese flag, since its owner, the CCV Capital Partners Fund, entered into exclusive negotiations for a divestiture.
CVC Is Said to Near €1.8 Billion Panzani-Cerealis Merger
CVC Capital Partners Plc is nearing a deal to combine its European pasta business with a cereal and dry foods firm backed by Sofina SA in a transaction valuing the group at around €1.8 billion ($2 billion) including debt.
leprogres.fr
Purchased five years ago by an investment fund, the French brand that also owns Lustucru is in exclusive negotiations with Portuguese Cerealis.
INFO THE FIGARO - The Portuguese Cerealis entered into exclusive negotiations with the CCV Capital Partners Fund to buy it the most famous French pasta manufacturer. The new set would exceed 1 billion euros in turnover.
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