Spain-based food group Cerealto has finalised its acquisition of Italian pasta maker Pastificio Mediterranea.
Cerealto had been running the business since 2013 and had an option to buy the company, based in Silvano D’Orba, outright. It struck a deal to acquire Pastificio Mediterranea earlier this year but had been awaiting competition approval, which has been granted.
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The deal, agreed for an undisclosed sum, fits Cerealto’s strategy of expansion in southern Europe, the company said.
In May, Cerealto bought two factories in Spain from local bakery giant Grupo Siro. Last year, Cerealto acquired a biscuit factory from Mondelez International in Mem Martins, near the Portuguese capital of Lisbon.
Cerealto has pledged to retain the 63 staff at the Pastificio Mediterranea site. The company said the plant will continue manufacturing pasta for third-party clients and under its own brands Pastificio Mediterranea and Moccagatta.
At present, Cerealto supplies Italian-made pasta to domestic customers and to clients in markets including Austria, France, the US and Mexico.
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By GlobalData
