Portugal’s Cerealis, Better Foods To Merge Milling Operations  

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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 nan milling units of Better Foods – Ceres, Germen, Carneiro Campos and Granel.

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The mixed business will beryllium group up arsenic a caller institution held connected a 50/50 ground by nan shareholder structures of some groups.

Financial specifications of nan transaction person not been revealed.

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

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

In a associated statement, nan companies said nan move is intended to “strengthen nan competitiveness and business capacity of nan Portuguese milling assemblage astatine a clip of accelerated translator successful nan Iberian market”.

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

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

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

Armando Miranda, CEO of Better Foods Group, said: “We judge that this merger will accelerate business modernisation and amended our expertise to service nan market, benefiting customers, labor and partners.”

The woody is taxable to reappraisal by Autoridade da Concorrência, nan Portuguese title authority.

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

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

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