Ebro Foods closes sale of Panzani to CVC Capital for €550 million

Ibro Foods On Friday, it closed and executed the sale of its dry pasta, semolina, couscous and Panzani sauce to the French company. invest investment, instrument majority owned by funds from venture capital giant CVC Capital Partners VIII Ltd. the The transaction value is 550 million euros, is seen today.

As reported by the group to the National Securities Exchange Commission (CNMV), the contract was executed once the conditions and formalities of closing specified in it had been verified and thereafter. The operation was approved by the extraordinary general assembly of shareholders on December 15, Although it was announced at the end of last July.

is being This operation will generate a total capital gain for Ebro Foods of approximately €91 million. The business that is the subject of the transaction includes the brands Panzani, Ferrero, Regia, Zakia, Le Renard, the factories of Vitrolles, La Montre and Nanterre, the factories of Gennevilliers, St.

According to their data, the French company’s dry noodle business employs About 750 workers, representing sales of 470 million euros in 2020 It had an adjusted operating result of 57 million last year.

For their part, Ebro Foods officials highlighted the deal Allows the group to “continue to focus its resources on furthering its ‘excellent’ business,” Fresh and comfortable, it’s a world leader.”

Spanish company It has already sold a portion of its business in the US and Canada at the end of 2020, which closed the year with a turnover of more than 3,200 million euros and a profit of 192 million.

See also  Hurricane Ida made landfall in Louisiana as a Category 4 hurricane

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

Leave a Reply

Your email address will not be published.

Back to top