Panzani, Cerealis in talks to create €1.8 billion European food group
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓French pasta maker Panzani and Portugal’s Cerealis started exclusive talks on Friday to combine operations.
- ✓This deal values the new European food group at €1.8 billion.
- ✓Many manufacturers now seek such mergers to gain scale, manage rising costs, and strengthen their bargaining power with retailers across various competitive regional markets.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
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.
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($1 = 0.8887 euros)
Reporting by Elvira Pollina; Editing by Jan Harvey
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