Spanish food groups Moreno and Hojiblanca Sociedad Cooperativa Andaluza have confirmed plans to merge in a bid to improve distribution and capitalise on potential synergies.
The new company will be called Agrifood Musa, a spokesperson for Moreno confirmed today (26 March).
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Moreno manufactures sauces under the Musa brand as well as producing vinegars and olive oils. The spokesperson said the merger agreement would see Moreno’s protfolio join complimentary products including oils, olives, wine and meat products.
“There are a number of synergies that have been identified. We believe these will create a stronger, more profitable company,” the spokesperson said.
The companies will merge sales activities and there is potential to reduce manufacturering costs, the spokesperson added. However, the group declined to comment on any potential job losses.
Instead, the firm insisted the deal will “expand business opportunities”, strengthening its offering to customers and opening up new markets – including export markets.
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