Belgian food group Vandemoortele has acquired Bunge‘s European margarine and spreads division, which is mainly active in Central Europe and Scandinavia under brand names such as Deli Reform, Goldquell and Sonja.
Leader in plant-based
The deal should be completed somewhere next year, subject to approval by the competition authorities. It fits in neatly with Vandemoortele’s ambitions to become a leading player in plant-based food. Financial details have not been made public, but the acquired branch is good for 450 million euros in annual turnover.
The American agricultural giant’s division has more than 800 employees and has production sites for twenty brands in Finland, Germany and Poland. The branch allows the Belgian group to extend its footprint in Central Europe and Scandinavia.
Chairman Jean Vandemoortele, fourth generation of the founding family, points out that the company wants to be a leader in the transition to plant-based food – not only in core categories such as margarine and vegetable oils, but also in developing segments such as sauces and plant-based cheese. The group achieved a turnover of 1.92 billion euros in 2023, the majority of which (1.2 billion euros) via its bakery division, with frozen products such as croissants, focaccia and donuts. The other food activities, including margarines, oils, mayonnaise and vinaigrettes, generated 762 million euros in turnover.
