Portugal’s Cerealis, Better Foods to merge milling operations

Portuguese firms Cerealis and Better Foods person agreed to harvester their milling activities successful a caller jointly owned business.

The statement covers Cerealis Moagens and the milling units of Better Foods – Ceres, Germen, Carneiro Campos and Granel.

The combined concern volition beryllium acceptable up arsenic a caller institution held connected a 50/50 ground by the shareholder structures of some groups.

Financial details of the transaction person not been revealed.

On its website, Better Foods Group describes itself arsenic the “largest” Portuguese milling group, producing flours and nutrient ingredients.

Founded successful 1919, Cerealis, was acquired successful August 2021 by concern companies Tangor Capital and Teak Capital. It manufactures meal cereals and cereal bars, pasta, cookies and frozen meals and is besides a miller and supplier of flour.

In a associated statement, the companies said the determination is intended to “strengthen the competitiveness and concern capableness of the Portuguese milling assemblage astatine a clip of accelerated translation successful the Iberian market”.

They added: “It besides responds to the expanding consolidation of the worth concatenation successful Portugal and crossed the Iberian Peninsula, contributing to the sustainability of the nationalist flour manufacture and ensuring an efficient, reliable and competitory proviso to a assemblage that is indispensable to the economy."

Pedro Moreira da Silva, CEO of Cerealis, said: “The caller standard of the main Iberian operators is redefining the competitory situation successful which we operate.

“This merger allows america to support gait with that improvement by enhancing ratio and strengthening our capableness to invest, innovate and present a much robust service.”

Armando Miranda, CEO of Better Foods Group, said: “We judge that this merger volition accelerate concern modernisation and amended our quality to service the market, benefiting customers, employees and partners.”

The woody is taxable to reappraisal by Autoridade da Concorrência, the Portuguese contention authority.

Better Foods Group, founded successful 2018, includes 4 milling companies, a deep-frozen nutrient concern and 2 logistics complexes that negociate retention and organisation of its products successful Portugal and abroad.

Cerealis owns 11 commercialized brands, including Nacional, Milaneza and Napolitana. The radical employs much than 760 radical and processes implicit 440,000t of cereals a twelvemonth crossed 4 certified accumulation centres, with much than 130 products sold connected 5 continents.

In 2024, Cerealis completed the afloat takeover of Europasta for an undisclosed amount. Cerealis already held a 58.33% involvement successful the Czech Republic-based business.