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European food manufacturer Cerealto, a producer of biscuits, cereals and snack bars, has announced a majority investment in US-based co-manufacturer Fresca Foods.
The partnership marks a significant expansion into North America for Cerealto, establishing its first large-scale US manufacturing presence. Following the deal, North America is expected to contribute around 20% of Cerealto’s total revenue.
Cerealto CEO Bosco Fonts said: "Partnering with Fresca Foods’ leadership team gives us a strong foothold in the world’s largest snacking market, shifting our business from predominantly European to truly international".
Founded and headquartered in Colorado, Fresca Foods is a well-established co-manufacturer producing for US and international brands across snack bars, granola, breakfast cereals, crackers and cookies.
Under the new partnership, Fresca’s leadership team remains in place and retains a significant shareholding, continuing to manage day-to-day operations.
Fresca CEO Brandon Viar said: “Together with Cerealto, we have the platform, expertise and shared ambition to accelerate growth as the leading co-manufacturing and private label snacking partner. We are truly excited for this next chapter and the opportunities it will unlock for our team members, customers and community.”
With continued demand for better-for-you and convenient snacking, the deal will allow both companies to expand their portfolios globally.
