Siro and Cerealto announce merger to form Cerealto Siro Foods

Spanish food companies Siro and Cerealto have agreed to merge their businesses to form a multinational group called Cerealto Siro Foods.

The group plans to invest its operational and financial resources in the biscuit, cereal and pasta categories, as well as focus on the business lines with global product ranges.

Cerealto Siro Foods intends to retain its position as a specialist supplier of Mercadona and maintain its commitments with Cerealto’s existing customers, both in Spain and other international markets.

Currently, the group has a workforce of more than 5,000 people distributed in 17 production centres located in the UK, Spain, Portugal, Italy, Mexico and a local team in the US.

Siro will offer its knowledge and experience in the food categories, while Cerealto provides an international structure to the business.

The group will divest bakery and bread categories, including bakery facilities located in Briviesca (Burgos), El Espinar (Segovia), Navarrés (Valencia) and Medina del Campo (Valladolid), as well as the bread factories in Antequera (Málaga) and Paterna (Valencia).

The company noted that although these businesses registered significant growth in recent years, they currently require focus and local resources, which no longer fit into the group’s strategy.

Cerealto Siro Foods presents estimated consolidated data at the close of this financial year of more than €600m in turnover and production exceeding 400,000t.