Panzani and Cerealis to create a 1.8-billion-euro European pasta giant

French pasta manufacturer Panzani and its Portuguese industry peer Cerealis are in exclusive merger talks. The combination is valued at approximately 1.8 billion euros. Both companies currently have a strong presence in different markets and are therefore primarily geographically complementary.

Complementary

The merger plans give new momentum to consolidation in the European pasta sector. Last year, Panzani generated revenue of 620 million euros, compared to 400 million euros for Cerealis. Together, they represent 1.02 billion euros in annual revenue and employ nearly 1,800 people. The targeted enterprise value amounts to approximately 1.8 times their combined annual revenue.