Group that owns Nacional and Milaneza purchased by Carlos Moreira da Silva and the Silva Domingues family
Aug 19, 2021
August 19, 2021
The Cerealis group, which owns the Nacional and Milaneza brands, was bought by Carlos Moreira da Silva and the Silva Domingues family, who share control of the BA Glass glassmaker, advances this Thursday the “Public” . The transaction amount was not disclosed. As one of the buyers told the newspaper, the transaction was motivated by the “possibility of growing the business in the international market, where it was already present, but where it is possible to grow even more”. However, on the seller’s side, the generation changes weighed in the decision. The current president, son of one of the founders, José Eduardo Marques Amorim, is already 87 years old and his son Rui Amorim, current CEO, will continue, despite the change of owner, to lead the management of the business. It is the first time in 102 years that the company has changed hands. Cerealis’ annual turnover is slightly above 200 million euros and the group has 670 employees, who, according to “Público”, have already been informed of the operation. Despite the change of owner, the group remains in Portuguese hands, after foreign investors, namely Spanish and British, were also in the race for the acquisition. Carlos Moreira Silva, in addition to owning 50% of BA Glass, is a director of Sonae Indústria and Efanor (holding which brings together the shares of the Azevedo family).