The transfer of ownership to the global investment firms, which have financially cleaned up the Company after paying off the debt with the financial institutions, has been completed.

The majority shareholder of Cerealto Siro Food ("Cerealto Siro" or "the Company"), Juan Manuel González Serna, the creditor financial entities of the Company and the investment funds Afendis Capital Management ("Afendis") and Davidson Kempner Capital Management LP have signed today the definitive agreement between the parties that has culminated with the transfer of shares to the investment firms and the capitalisation of the Company's balance sheet.

The entry of Afendis and Davidson Kempner marks the beginning of a new era of financial stability for the Company, which becomes a strongly capitalised group with significant growth prospects backed by trusted relationships with customers around the world and the strength of the Company's product portfolio.

"Today opens a new stage of future and growth in Cerealto Siro Foods that allows the continuity of the business, a priority that we have always defended. My eternal gratitude to all the collaborators who have made it possible, to the customers and suppliers who have continued to support us and to the institutions that have been involved and have facilitated the closing of the operation", declared Juan Manuel González-Serna, founder of Cerealto Siro Foods.

"We are fully convinced of the strategic potential of Cerealto Siro Foods. The company has built strong relationships with its customers globally and is poised to become a leading supplier to retailers and branded manufacturers around the world. We will dedicate our resources and industry expertise to boost the company's competitiveness and build on the capabilities of its teams and R&D," says Dr. Cem Karakas, Cerealto Siro's new CEO.