Cerealto, a group specialized in manufacture of cookies, breakfast cereals, cereal bars, corn and rice cakes, snacks, pasta and gluten-free bread for third parties, closed 2024 with sales reaching 526 million euros,representing a 6% growth over the previous year, thanks to its efficiency, safety, innovation and commitment to quality.
The group has also managed to increase its production volume to 243 thousand tons, a 7% improvement over 2023. This increase enables the company to continue with its investment plan to expand industrial capacity and improve operational efficiency.
"Cerealto is currently a company in expansion. We are increasing our production and sales, as well as our industrial capacities in Spain and abroad, with new production lines and factories," says Bosco Fonts, CEO of Cerealto. "Our goal is to become the leading exclusive third-party manufacturer".
Recurring EBITDA grew by 74% to 47.3 million euros, driven by optimization and efficiency measures.
Investment to further improve operations
In 2025 alone, Cerealto expects to make investments of around €50 million, mostly corresponding to investments in efficiency, capacity and new business, in addition to the €100 million that the multinational has invested since the entry of its new owners (Davidson Kempner and Afendis) in 2022.
"Cerealto is a growing company that will continue to invest. Our strategy combines organic and inorganic growth, with a firm commitment to operational efficiency and sustainability," says Fonts.
One of the milestones that marked 2024 was the acquisition of the British biscuit company Hill Biscuits, which has strengthened Cerealto's presence in the United Kingdom, Ireland and other export markets. Also noteworthy were the advances in efficiency and production at the Tepeji (Mexico) and Worksop (United Kingdom) factories.
"The group's commitment to manufacturing more specialised, high-value products has enabled it to transition to a more profitable business model. In the 2024 financial year, the implementation of company processes has enabled us to consolidate profitability, ensure customer confidence, recover the group's positioning, and develop internal talent as a pillar of our evolution", highlights Bosco Fonts, CEO of Cerealto.
Sustainability: measurable and long-term objectives
In environmental matters, Cerealto renewed in 2024 the zero landfill certification for its factories in Spain and reduced its CO₂ emissions by 10.5% with respect to the tons manufactured, the equivalent of what 4,000 households emit during approximately one year. The company is also working to reduce its water footprint by 15-20% by 2028, transition to paperless factories, and increase the use of renewable energy.
Other commitments include reducing the carbon footprint, reducing relative water consumption by 3%, reducing energy consumption by 4% (Kwh/tn), maintaining the use of PET R-PET (100% recyclable) in its plastic packaging, and increasing the use of recyclable materials from 91% in 2024 to 95% in 2027 and maintaining it until 2028.
Employment and social impact
Cerealto employs more than 3,200 people, 400 more than in 2023. In recent years, the company has recruited individuals with strategic profiles and international experience in the food sector.
In addition, the group is committed to integrating people at risk of social exclusion. To this end, the company has a special employment center in Venta de Baños (Palencia), and 14% of the average workforce in Spain has some type of disability.
"We go beyond complying with the obligations required by the applicable regulations in the countries in which we operate. We proactively incorporate people with disabilities into our workforce as a matter of course", says Fonts.
Cerealto's social commitment is also reflected in actions such as the donation of basic foodstuffs. In 2024 alone, it donated more than 223,000 kilos of product to foundations, food banks and local projects.
