Panzani, Cerealis in talks to create €1.8 billion European food group

By Reuters News

MILAN, Oct 16 (Reuters) - French pasta maker Panzani and Portugal's Cerealis are in exclusive talks to combine their operations in a deal valuing the merged business at about €1.8 billion ($2.03 billion), they said on Friday.

The proposed deal reflects a broader push for consolidation in Europe's food sector as manufacturers seek greater scale to cope with rising costs, strengthen their bargaining power with retailers and expand across regional markets.

  • The deal would create a European food group with about €1 billion in annual revenue and nearly 1,800 employees, the companies said

  • Panzani, which is controlled by private equity firm CVC, generated €620 million of revenue in 2025. Cerealis, controlled by its founding families and Belgian investment company Sofina SOF.BR, reported revenue of €400 million

  • Panzani and Cerealis would remain headquartered in Lyon and Porto respectively and retain operational autonomy

  • The merged group would be owned by Cerealis' existing shareholders, including the Moreira da Silva and Silva Domingues families and Sofina, alongside CVC Capital Partners, which would keep a minority stake

  • Cerealis' Executive Vice Chairman Pedro Moreira da Silva would lead the combined group, while Panzani CEO Albert Mathieu would oversee Panzani and its Central European operations. Cerealis CEO Paula Meireles would manage its Iberian and international private-label business

($1 = 0.8887 euros)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.