New era, but Grupo Cerealis remains 100 percent Portuguese

Maia / PT. (eb) Portugal’s Amorim and Lage families have reached an agreement with the Moreira da Silva and Silva Domingues families for the sale of 100 percent of Grupo Cerealis.

Founded in 1919, three generations of the Amorim and Lage families have developed over 102 years one of the largest Portuguese groups in the agri-food sector with presence in the pasta, breakfast cereals, industrial and culinary flours and biscuits sectors.

With strong presence in Portugal and growing internationally, Cerealis owns the well-known brands «Milaneza», «Nacional», «Harmonia» and «Concordia» and has factories in Maia, Porto, Trofa, Coimbra and Lisbon. The Group also has a 33.3 percent stake in Europasta, a pasta company based in the Czech Republic.

The acquisition of Cerealis, which is still subject to clearance by the Competition Authority, will be carried out by Teak Capital B.V. and Tangor Capital S.A., investment companies of the new shareholders, while remaining 100 percent Portuguese.

The sellers are confident with the shareholder solution found for the acquisition of Cerealis and wish the company and the new shareholders a very successful future.

On the acquiring side, Carlos Moreira da Silva stated that «we are satisfied with the agreement reached with the shareholders and convinced that Cerealis, maintaining the criteria of excellence and innovation recognised by the Portuguese consumers, may start a new phase of growth, diversification and internationalisation, investing in the development of its employees».