Global cereal-based food manufacturer Cerealto plans to invest €68 million in Portugal, the UK and the US in 2016, creating 250 new jobs, enhancing factories and strengthening teams in strategic markets.
Last year, Cerealto achieved a turnover of €82 million, which represented an 18 per cent growth over 2014. The company increased food production to 62,000 tonnes, created more than 350 new jobs, and expanded local sourcing to 70 per cent.
Cerealto also launched 99 new products onto the market and invested €3.2 million in R&D, which represents 4 per cent of its total turnover for 2015.
In 2015, Cerealto acquired the Tepeji del Río de Ocampo biscuit factory in Mexico and started construction of a new plant in the UK (Worksop) for the manufacturing of gluten-free products and cereal bars.
Cerealto now owns two factories in Portugal, after purchasing a biscuit factory in Mem Martins in March 2016. The other factory is the Nutriceal Foods plant for baby food production in Benavente, acquired from Danone in 2013.
For Portugal, the plans for 2016 include expanding the Cerealto ranges available on the local market; opening up new baby food markets, especially in Asia, Africa and Latin America; and developing product ranges for large European industrial clients and distributors in Latin America and Asia.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
