Panzani and Cerealis Discuss 1.8B Euro Merger
French pasta maker Panzani and Portugals Cerealis are negotiating a merger valued at 1.8 billion euros. The combined European food group will generate about 1 billion euros in annual revenue and employ nearly 1800 workers.
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French pasta maker Panzani and Portugal-based Cerealis are in exclusive talks to combine operations in a €1.8 billion ($2.03 billion) deal, the companies said on Friday morning. The merger aims to build scale across France and Portugal to counter rising operational costs. The combined European food group will generate €1 billion in annual revenue with nearly 1,800 employees.
