Ebro Foods executes the sale of its Panzani pasta business to CVC Partners for 550 million

The company will obtain a gross capital gain of about 91 million euros.

Antonio Hernández Callejas, president of Ebro Foods.

Ebro Foods has closed this Friday the sale of its dry pasta, semolina, couscous and Panzani sauce business to CVC Partners VIII for an amount of 550 million euros, as reported by the group to the National Securities Market Commission (CNMV)

It should be noted that the execution of the contract has materialized once the fulfillment of the conditions and formalities for the closing established therein has been verified and after the operation was approved by the extraordinary general meeting of shareholders on December 15.

This operation will generate Ebro Foods a gross capital gain of about 91 million euros. The business that is the subject of the transaction includes the Panzani, Ferrero, Regia, Zakia and Le Renard brands, the Vitrolles, La Montre and Nanterre plants and the Gennevilliers, St.Just and ‘Littoral’ mills.

The operation will allow Ebro to continue concentrating its resources on strengthening its premium, fresh and convenience businesses.

Said business reached net sales of 470 million euros in 2020 and had an adjusted operating result (before amortization, depreciation and non-recurring) of 57 million euros in 2020.