Spain-based food group Cerealto is looking to create around 200 jobs across plants in the UK and Portugal as it invests in production.
The company is looking to expand its production capacity in the two markets.
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In Portugal, Cerealto has two plants: one in Benavente for baby food and one in Mem Martins for biscuits. In the UK, the group has a factory in Worksop where the company manufactures biscuits, cereal bars, snacks and gluten-free products.
A Cerealto spokesperson did not have further information on how much capacity would increase but said becoming “a local manufacturer of multiple product categories in the markets [is] strategic for the company’s expansion”.
In 2017, Cerealto saw its turnover jump 72% over 2016 in part due to M&A. However, the group booked an EBITDA loss of EUR2.1m (US$2.6m), pointing to costs from the start-up of the factory in the UK and “operational improvements” at a plant in Mexico. In 2016, Cerealto generated EBITDA of EUR4.2m.
Looking into this year, the spokesperson said: “Our focus in 2018 will be on consolidating our presence in the international arena, paving the way to the company’s digitisation, fulfilling our commitments with clients and continuing integrating our teams and standardising our ways of working. In the USA, we are looking for M&A opportunities but we do not have anything concrete yet.”
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