Multinational agri-food group Cerealto Siro Foods announced the continued closure of its biscuit factory in Venta de Baños, Palencia, a facility that currently employs around 200 workers. After outreach to more than sixty potential investors, the firm found only one party willing to pursue a deal, and that option was ultimately rejected as the sales process was not deemed viable by the end of the discussion period.
Earlier steps had already involved consolidating the group’s competitiveness plan, which covers nearly 1,900 employees across three workplaces in Venta de Baños and additional facilities in Aguilar de Campoo, Palencia, and Toro in Zamora. The negotiations stretched over several months, culminating in the entry of new owners, mutual funds Afendis and Davidson Kempner, who completed their involvement through a formal agreement. This transaction aligned with measures previously discussed with the regional industrial authorities and industry ministries, which outlined the framework for the workforce and facility operations under the new ownership structure.
In statements gathered by a regional news service, Cerealto Siro Foods highlighted that both company committees and the regional authorities would participate in a working group comprising worker representatives. This commitment underscored a joint aim to preserve jobs and maintain productive capacity across the group’s footprint, even amidst the transition to new ownership and the ongoing assessment of strategic options for the biscuit line.
With investor interest failing to materialize for the biscuit plant, the new owners signaled that the door to a potential sale had effectively closed, as all parties had already fulfilled the conditions set forth in the Competitiveness Plan. The arrangement reflected a careful balance between preserving employment opportunities and aligning the company’s long-term strategic priorities with market realities.
Regional authorities reaffirmed their vigilance and ongoing engagement with the current owners as well as with potential future investors. The government representative emphasized a sustained effort to monitor the situation in Venta de Baños, ensuring that neither employment nor productive capacity is sacrificed in the community. The spokesperson affirmed ongoing dialogue with municipal leaders and industry ministers to support a pragmatic outcome for workers and the local economy.
In this context, the regional official noted that proactive measures are being taken to safeguard employment levels and industrial activity in Palencia. The emphasis remained on maintaining a stable transition plan, with officials personally involved in the process to ensure transparency and accountability as the situation evolves.