Portuguese agri-food company Cerealis has completed the acquisition of Europasta for an undisclosed amount.
Cerealis already held a 58.33% stake in the Czech Republic-based business but has acted to take full control of the pasta maker.
In a statement it said: “Cerealis acquired the entirety of the capital of Europasta, one of the largest pasta producers in Central Europe, with an approximate capacity of 100,000 tons per year.
“This acquisition will allow Cerealis to better serve its European customers by improving efficiency, service levels, product portfolio and reducing CO2 emissions.
“Europasta’s operations will also serve as an important base for potential new acquisitions in the region.”
Pedro Moreira da Silva, the company’s CEO, added: “This acquisition, besides
consolidating and aligning with our defined growth strategy, also enhances our ability to serve clients across multiple geographies. We´ll be able to select the best production centre for each delivery point to provide better service, increase our efficiency and minimise CO2 emissions in the supply chain.
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By GlobalData“Europasta is a key asset in our expansion process and will also serve as an important base for potential new acquisitions in that geography.”
Just Food has asked Europasta for comment.
Cerealis initially acquired a 33.33% stake in Europasta in 2010 before gradually increasing its ownership to 58.33%.
Europasta owns the brands Adriana, Zátkovy, Rosické and Ideál and mainly sells its products in central Europe. It has an annual turnover of around €70m ($77.3m).
Founded in 1919, Cerealis, which was acquired in August 2021 by investment companies Tangor Capital and Teak Capital, processes more than 400,000 tonnes of cereals annually at four production centres.
Based in the town of Aguas Santas, Maia, it manufactures breakfast cereals and cereal bars, pasta, cookies and frozen meals and is also a miller and supplier of flour.
Cerealis’ brands include including Nacional, Milaneza and Adriana.
