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November 30, 2021updated 07 Dec 2021 11:56am

Spain’s Cerealto Siro linked with investment partner move

Reports suggest that French private-label biscuit maker Biscuit International is a possible suitor.

Cerealto Siro Foods, the Spanish cereal and biscuits manufacturer, has been linked with a move to find an investment partner.

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Spanish news agency EFE said Cerealto had confirmed it had four offers on the table and that the process of finding an investment partner is “very advanced”.

It reported that Paris-based private-label biscuit maker Biscuit International is one of the interested parties.

A spokesperson for Biscuit International, which is owned by US investment firm Platinum Equity and owns businesses including Northumbrian Fine Foods in the UK and Stroopwafel & Co. in the Netherlands, said it was company policy “not to comment on market rumours or speculation”, when asked for clarification by Just Food.

Cerealto declined to comment.

Mexican bakery giant Grupo Bimbo, which agreed a deal to buy one of Cerealto’s factories in Spain in February, has also been linked with making a move for the Spanish firm. Cerealto has a global workforce of 4,500.

EFE also said Spanish peer Galletas Gullón had also made an offer but had withdrawn due to likely competition law issues.

It remains unclear whether the talks involve a full acquisition or an investment stake.

EFE reported that, in parallel to the process of finding an investment partner, Cerealto is still negotiating with sovereign wealth fund Sociedad Estatal de Participaciones Industriales (SEPI), from which it has requested a loan of EUR90m (US$102m).

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VC funding trends to watch out for in Consumer

Consumer industry investors across the world are betting big on the ESG trend to pick up in the future and are focusing on backing the start-ups and emerging companies working in the meat-alternative products category.   The top two deals in this category were the $500 million investment raised by Impossible Foods and the $347 million investment deal for Future Meat Technologies.  GlobalData’s Venture Capital Investments – Consumer 2021 will help you dive into the capital raising landscape across regions and themes.  Use the report to identify emerging signals and trends across Consumer, formulating winning strategies for the road ahead.   
by GlobalData
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