Investing.com -- CVC Capital Partners PLC (AS:CVC) is nearing an agreement to merge its French pasta producer Panzani with Portuguese food company Cerealis, according to Bloomberg reporting. The transaction would create a combined European food group valued at approximately €1.8 billion ($2 billion) including debt.
Under the terms of the prospective deal, CVC would retain a minority stake in the newly consolidated enterprise. The buyout firm originally acquired Panzani's dry pasta, sauce, and couscous operations in 2021 in a transaction valued at €550 million.
For its part, Cerealis operates out of Porto with a product portfolio spanning pasta, flour, biscuits, and breakfast cereals. The Portuguese firm is controlled by its founding families alongside Belgian investment company Sofina SA, which secured its position in the business earlier this year.
The deal highlights ongoing consolidation across the European packaged food sector as private equity sponsors seek operational scale and geographic distribution. By pairing Panzani's established market position in France with Cerealis's Iberian footprint, the combined entity would gain broader European reach.
CVC Capital Partners shares rose 1% in Amsterdam trading following the news. Investors appear to view the portfolio rationalization as a strategic step toward unlocking value from the buyout firm's food industry holdings.
Original Article
CVC nears €1.8 billion merger of pasta maker Panzani with Cerealis - Bloomberg
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