French Pasta Leader Panzani Set to Join Portuguese Giant Cerealis in Major Acquisition

Panzani, the dominant French pasta manufacturer, is poised to be acquired by the Portuguese company Cerealis, signaling a significant shift in the European pasta market. This acquisition will create a new entity with combined revenues exceeding 1 billion euros and an estimated valuation reaching 1.8 billion euros. Negotiations, which have entered an exclusive phase as of mid-October 2026, involve the Portuguese Moreira Da Silva and Silva Domingues families alongside the Belgian investment fund Sofina. The deal, while keeping its precise financial terms undisclosed, marks an expansion that could challenge the global pasta leader Barilla more effectively.

Previously acquired by CVC Capital Partners in 2021 for 550 million euros, Panzani’s new ownership under Cerealis is expected to leverage complementary market strengths. Albert Mathieu, CEO of Panzani, underscored the strategic benefits of merging the two brands, highlighting Panzani’s strongholds in France and the Netherlands alongside Cerealis’ robust presence in Portugal, Spain, and the Czech Republic. The combined group, headquartered in Lyon close to where Giovanni Panzani settled after emigrating from Italy, aims to enhance competitive positioning and growth opportunities in key European markets.

The employees of both companies, totaling around 1,800, have been informed of the developments, reflecting internal communication efforts amid this major transition. The acquisition reflects broader strategic moves in the European food sector, with Panzani seeking to maintain its leadership through collaboration rather than competition with Cerealis. By joining forces, the companies expect to create a powerful consortium against Barilla’s global dominance.