Ebro acquires French organic cereals manufacturer Celnat for $27.7m
Ebro Group said it would use its worldwide presence to accelerate the growth of Celnat in France and overseas. Celnat reported a turnover of €22m ($23.9m) in 2015, with 20% of sales generated on foreign markets.
Celnat was known for its high-quality organic food products, said Ebro, and had an “excellent reputation” in specialist markets. The Celnat product range includes pulses, grains and breakfast cereals, among other goods.
The Ebro Group has created an independent division called Alimentation Santé [healthy eating] that will incorporate Celnat and other organic operations. Ebro said the new structure would make it easier to extend Celnat’s expertise and know-how throughout the division.
Target new food trends
Ebro added that the acquisition would enable it to boost its position in the healthy food and organic markets, and strategically position itself to target new food trends.
The Celle family, which founded and owned Celnat, will continue to be part of Celnat management in order to preserve the business’s identity, culture and 100% organic values.
Multinational food group
Based in Spain, Ebro is a multinational food group operating primarily the rice, pasta and sauces sectors. It has a commercial or industrial presence in more than 25 countries in Europe, North America, Asia and Africa, and describes itself as the second largest pasta manufacturer in the world.
Last October, Ebro reported year-on-year growth of 17.7% to €1.8bn ($2bn) in the first nine months of 2015, with gross operating profit up 8.7% year on year to €214.3m ($233.6m).
