Panzani, leader in dried pasta in France and one of the best-known brands among the French, could go under the Portuguese flag. Its current owner, the CVC Capital Partners fund, has entered into exclusive negotiations for a sale.
The potential buyer, Cerealis, is a heavyweight in the Portuguese agri-food industry little known in France. Until now little present in France, it would make a sensational entry into the French market with Panzani.
Albert Mathieu, current CEO of the Panzani group, underlines a perfect geographical complementarity, specifying that Cerealis is very present in Portugal, Spain and the Czech Republic, while Panzani is strong in France and the Netherlands.
Cerealis' operations extend beyond pasta, with the company also producing flours, biscuits, breakfast cereals and cereal bars.