Panzani and Cerealis Forge Partnership to Create European Food Powerhouse

Panzani and Cerealis Join Forces to Create a Major European Food Group

In an exciting development for the European food industry, Panzani Group and Cerealis have entered into exclusive negotiations to merge. This strategic union aims to establish a powerful, independent European food conglomerate, significantly enhancing their market share and operational capabilities.

As the negotiations progress, both companies bring substantial financial resources and market influence to the table. Panzani, headquartered in Lyon, recorded revenues of €620 million in 2025 and has a solid footprint across France, the Netherlands, and Central Europe. They specialize in products such as pasta, couscous, and sauces. On the other hand, Cerealis, based in Porto, made €400 million in revenues, focusing on dry pasta, cereals, snack bars, and biscuits across markets in Portugal, Spain, the Czech Republic, and Poland.

This merger is estimated to yield a combined annual revenue of around €1 billion, creating robust employment opportunities and expanding its workforce to nearly 1,800 employees. This diversification is pivotal for participating in increasingly competitive markets. The collaboration aims to leverage the strengths and product portfolios of both companies, facilitating growth opportunities and enhancing their market presence.

Pedro Moreira da Silva, Executive Vice Chairman of Cerealis, expressed optimism about the merger, highlighting that the complementary nature of both companies' products will significantly boost innovation and growth prospects. He stated, “The main driver behind this transaction is the potential to utilize highly complementary product ranges, technologies, and competencies.” This sentiment echoes the shared entrepreneurial culture and long-term commitment to brand development and market growth evident in both organizations.

The proposed merger promises a decentralized operational model where both companies can maintain their autonomy. Panzani will continue to operate as a French entity under the existing leadership of CEO Albert Mathieu, who will oversee the central European operations of the merged group. Cerealis will retain its identity as a Portuguese company, managed by CEO Paula Meireles, who will be responsible for their activities on the Iberian Peninsula and the international private label segment.

Albert Mathieu remarked, “This project would open a new chapter in Panzani's history. By joining forces with Cerealis, we would create an independent company with a pan-European reach – more diversified, stronger, and resilient.” Both entities are committed to fostering their French and Portuguese roots while remaining dedicated to their agricultural partners.

After the merger is finalized, the new group will benefit from a stable, long-term European shareholder base, including direct involvement from existing Cerealis shareholders and backing from Sofina and CVC Capital Partners. This arrangement reflects the focus on sustained growth and investment in the organization, with each shareholder represented on the board of directors to facilitate ongoing development.

Harold Boël, CEO of Sofina, expressed enthusiasm about the impending merger, underlining the importance of supporting multi-generational family businesses in pursuing their long-term growth ambitions. He mentioned, “We are pleased to deepen our partnership with Cerealis, providing the additional capital needed for this transformative merger with Panzani and creating a large European food group.”

The merger remains subject to necessary employee representation consultations and regulatory approvals, ensuring a smooth transition into one of Europe’s leading food companies.

Conclusion

The prospective merger of Panzani and Cerealis symbolizes a significant transformation in the European food sector. By pooling resources and expertise, they envision a future where they can offer an extended product range, innovate better, and create value for their consumers while solidifying their supply chain resilience. This partnership is set to redefine their operational capabilities and solidify their market position across a broader geographical landscape.