Spain's Cerealto Sees 14% Growth In 2016 Turnover
Spanish food producer Cerealto ended 2016 with a turnover of €93 million, representing a 14% growth in comparison with 2015, the company has announced.
Production volume amounted to 71,000 tonnes, compared with 62,000 a year earlier.
Sales by category were led by biscuits (49% of the total), followed by pasta (25%), baby food (14%), sliced bread (5%), cereals (4%) and industrial pastries (3%). 52% of sales were to multinationals, while retailers and distributors accounted for the remaining 48%.
The Southern Europe Region accounted for 56% of Group’s turnover, followed by Eastern and Central Europe/Asia/Middle East (24%), Americas (14%) and Northern Europe (6%).
Last year’s highlights include an agreement with Mondelēz for the acquisition of its biscuit factory located in Mem Martins (Portugal), the commencement of manufacturing of gluten-free products in Worksop (UK) and the formalising of a deed of sale for the takeover of Pastificio Mediterranea (Silvano d’Orba, Italy), which will be implemented in 2017.
During 2016, Cerealto launched 221 new products.
The company invested €3.5 million in R&D, which represented 3.76% of its total turnover, and allocated €46 million for the development of new projects.
In addition, Cerealto adopted a new organisational structure to become more flexible and adapt to customers in each region in which it operates.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine