Cerealto, worldwide food manufacturer, has signed a syndicated loan for 80 million euros to finance its international expansion plan.
This plan entails investments in different strategic markets, including the United Kingdom, Portugal, Italy, Mexico and the United States.
The loan was designated by Santander with the participation of other financial institutions, such as Rabobank, Bankia, Caixabank, Sabadell and Liberbank.
Cerealto, founded in 2012 as an entrepreneurship by Luis Ángel López (owner and President), forecasts a turnover of 500 million euros by 2021.
The Company has a business model of creating long term alliance with its clients, which has allowed them to secure 70% of its turnover.
This loan will help Cerealto to achieve the commitments acquired with its clients (worldwide retailers and top level manufacturers), related to product category management, innovation or manufacturing.
Cerealto is a worldwide food manufacturer, supplying products to retailers and food companies in the B2B sector.
Its product portfolio includes: biscuits, breakfast cereals, cereal bars, baby food, pasta, bread, pastries, gluten free products and snacks. It launches over 100 new product developments each year, and invests more than 4% of its turnover in R&D.
Cerealto offers its products in over 40 countries. In 2016, it registered a turnover of 93 M€. The company has eight production centres in Portugal, Spain, Italy, the United Kingdom and Mexico, and a workforce of over 1,600 employees (4% of them come from groups with barriers to work).