Madrid, November 15th, 2018: Siro and the multinational Cerealto have reached an agreement to merge into new multinational food group, Cerealto Siro Foods, dedicated to the manufacturing of third-party labels. The new Group will close the 2018 financial year with estimated consolidated figures of €600 million in turnover and a production volume of 400,000 tonnes.
The new Group has a team of more than 5,000 people distributed among its 17 production centres located in Spain, Portugal, Italy, United Kingdom and Mexico, and has also a local team in the United States.
The Group has a manufacturing centre located in Worksop (Nottinghamshire, UK) specialized in biscuits and cereals, with a workforce of over 300 people.
The aim of the new Group is to position itself in the global food market with an offer of products that respond to the needs of consumers and a business model based on quality, operational efficiency and innovation.
To this end, Cerealto Siro Foods plans to allocate its operational and financial resources to the global categories of Biscuits, Cereals and Pasta, which are business lines with global growth potential. While Siro brings in its wide expertise on these categories’ management, Cerealto provides its international structure and experience, as well as its client portfolio.
The same spirit with a unique value proposition
The integration of both companies into Cerealto Siro Foods is a unique value proposition to transform together the future of the global food industry. For consumers, with an offer of innovative, nutritious and healthy products that meet the specific needs of the different groups without sacrificing flavour. For the employees of the new Group, by making them protagonists of a cultural and organisational transformation to create the best place to grow and develop professionally, with a clear commitment to digitalisation that allows the connection and sharing on experiences and knowledge globally. For customers, adapting to their needs from a commitment to innovation, efficiency and quality to produce unbeatable products in quality and cost from the use of the latest technology applied to processes and products. And for society, with the firm’s commitment to remain sustainable and generate social value through the promotion of local communities in which the Group is present, favouring diversity and the integration of people at risk of social exclusion and care for the environment.
About CEREALTO SIRO FOODS
Cerealto Siro Foods, born from the integration of Siro and Cerealto, is a multinational company that manufactures cereal based food products, supplying retailers and branded food companies in the B2B sector, with a focus on innovation and a high development potential in multiple markets.
The new Group will close the 2018 financial year with estimated consolidated figures of €600 million in turnover and a production volume of 400,000 tonnes. The Group has a team of more than 5,000 people distributed among its 17 production centres located in Spain, Portugal, Italy, United Kingdom and Mexico, and has also a local team in the United States.
With an accumulated investment in 2018 of more than €13MM in product innovation, its business model is focused on the consumer, quality, innovation in products and processes and operational excellence. In addition to its strong commitment to the development of the communities where they operate and towards the integration of people with barriers to work, which represent more than 12% of its workforce.