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 includes manufacturing sites in Germany, Poland, Finland and Hungary, as well as a portfolio of 20 brands. Financial details have not been disclosed.
If approved by regulators, the acquisition will strengthen Vandemoortele’s presence in Central and Eastern Europe and Scandinavia. The company, which generates annual revenues of around 2 billion euros, aims to expand beyond its existing stronghold in Western and Southern Europe.
The acquisition will also bolster Vandemoortele’s business-to-consumer retail operations, an area where Bunge has a strong presence. While Vandemoortele, based in Ghent, primarily serves industrial clients outside Belgium, this deal will provide a greater foothold in supermarket sales across Europe.
Vandemoortele CEO Yvon Guerin said the company was committed to maintaining the quality and innovation of its plant-based products while “expanding its market reach”.
Regulatory approval is still required, but Vandemoortele expects the transaction to be finalised in the course of next year.
#FlandersNewsService | Illustration picture shows butter and cheese in a supermarket in Miami © PHOTO CHANDAN KHANNA / AFP
Related news
