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Portugal

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Editorial infographic showing the proposed combination of Panzani and Cerealis, highlighting an indicative €1.8 billion enterprise value, about €1 billion in combined annual revenue, nearly 1,800 employees, a 2025 revenue base of €620 million for Panzani and €400 million for Cerealis, and a European footprint spanning France, Portugal, Spain, the Netherlands and Central Europe.
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Panzani and Cerealis plan €1.8bn European food group with €1bn in annual revenue

France's Panzani and Portugal's Cerealis have entered exclusive negotiations to combine their pasta, couscous, cereals and packaged food operations. Backed by Sofina, CVC Capital Partners and Cerealis' founding families, the proposed business would employ approximately 1,800 people across an expanded European manufacturing and distribution network.