Vandemoortele to become Europe's leading producer of frozen bakery products

Belgian food group Vandemoortele has reached an agreement to acquire French frozen bakery specialist Délifrance from grain cooperative Vivescia, the company has announced. The deal is expected to close later this year, subject to final approvals. Financial details were not disclosed.

The acquisition would make Vandemoortele the largest producer of frozen bakery products in Europe. Délifrance employs more than 3,200 people, operates 14 production sites and has annual sales of around 930 million euros. It supplies frozen bakery products to supermarkets, food service companies and bakeries in Europe and Asia.

Decades of experience

Vandemoortele, which has been active in the bakery sector for five decades, employs 3,500 people at 28 production sites and has a turnover of 1.4 billion euros, mainly in Europe and the US.

CEO Yvon Guerin sees strong potential for synergies in areas such as accelerating growth, customer service, product innovation and branding. The two companies are described as complementary in terms of product range, services and geographical presence.

Food company Vandemoortele to acquire Bunge’s European margarine business

Belgian food company Vandemoortele has agreed to acquire the European margarines and spreads division of US agribusiness giant Bunge. The deal...

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This is the second major announcement from Vandemoortele in a week. On Tuesday, it confirmed plans to acquire the 450 million euro European margarine and spreads business of US food company Bunge.

The company also published its annual results on Friday. The group's turnover increased by 59 million euros to 1.99 billion, while net profit rose by 2 million euros to 111 million. The CEO described the economic climate as "more stable and calmer" after years of high cost inflation.

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