Vandemoortele buys US baker Banneton outright

Belgium-based Vandemoortele has taken afloat ownership of US bakery adjacent Banneton by acquiring the remaining involvement successful the business.

Financial presumption of the transaction were not disclosed arsenic the Belgian baker added to its 80% involvement successful Banneton purchased successful 2024.

In a connection yesterday (3 August), Vandemoortele said the acquisition "marks a large milestone" for its North American strategy by "establishing a home US manufacturing footprint".

The family-owned institution said: "Combining Vandemoortele's European import infrastructure with Banneton's home accumulation works provides a flexible, hybrid exemplary that streamlines logistics and rapidly meets lawsuit demands."

The Banneton marque volition beryllium retained.

After the deal's completion, Alexandre Bloch, antecedently with Vandemoortele's portion successful France, volition instrumentality implicit arsenic operations manager.

Founded successful 2008, Banneton produces croissants and pastries astatine its installation successful Swedesboro, New Jersey.

Its products are sold crossed retail, foodservice and bakery channels passim the US.

Before the 2024 transaction with Vandemoortele, Banneton was owned by private-equity steadfast Encore Consumer Capital and founders Victor and Alex Litinetsky.

Curt Coolidge, the wide manager of Vandemoortele North America, said: "We are excited to afloat integrate the Swedesboro installation into our operations, allowing america to present the eventual one-stop-shop acquisition for authentic, premium freezer-to-oven croissants and pastries."

Vandemoortele focuses connected frozen bakery products and plant-based nutrient ingredients.

The institution operates accumulation sites crossed 12 European countries and markets its products successful much than 95 countries, including the US and Canada.

Meanwhile, Vandemoortele announced its acquisition of Délifrance aboriginal past year, creating a bakery concern with an estimated combined turnover of €2.4bn (then $2.6bn).

However, the woody encountered contention concerns successful the UK and Europe.

The transaction past received conditional support from the European Commission past twelvemonth amid Vandemoortele's pledge to merchantability 2 French plants successful Avignon and Béthune but it was incapable to unafraid a purchaser for the sites.

Consequently, the UK's Competition and Markets Authority (CMA) launched a Phase 2 probe into the woody successful April.

Then successful June, Vandemoortele offered to merchantability its mill successful Worcester successful the UK to code those concerns. The institution is present awaiting the adjacent measurement from the CMA.

"Vandemoortele buys US baker Banneton outright" was primitively created and published by Just Food, a GlobalData owned brand.