Fresca Foods Inc., a Colorado-based natural and organic co-manufacturer of snacks and baked goods, has obtained a majority investment from Cerealto, a third-party processor of biscuits, cereals, snacking bars in Europe, the UK and Mexico, according to a release sent to Food Processing.
The investment represents a major expansion by Cerealto into the U.S. market, giving it a manufacturing presence there, as well as immediate access to the country’s fast-growing natural and organic snack market. The company expects North American markets to represent about 20% of future group revenues, the release noted.
Cerealto will have a controlling stake, but Fresca’s leadership team will retain shareholding, and also manage the day-to-day U.S. operations. Fresca operates in five key categories: snack bars, granola, breakfast cereals, crackers and cookies.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.