Belgian food group Vandemoortele has reached an agreement with Bunge to acquire its European margarine and spreads business. With this move, Vandemoortele aims to strengthen its market position and contribute to the transition towards more sustainable plant-based food.
The acquisition grants Vandemoortele access to a broader geographical market, with production facilities in Germany, Poland, and Finland. Bunge’s European margarine and spreads business generates an annual revenue of over 450 million euros and employs more than 800 people.
“This acquisition offers an interesting geographical complementarity”, says Yvon Guerin, CEO of Vandemoortele. “We are strengthening our presence in Central and Eastern Europe and Scandinavia.”
Innovation in plant-based products
The acquisition aligns with Vandemoortele’s strategy to be a leader in plant-based food. “We want to accelerate the transition to sustainable and delicious plant-based food”, says Jean Vandemoortele, Chairman of the Board. “Besides margarine and plant-based oils & fats, we aim to grow in segments such as sauces, dressings, plant-based creams, and cheese.”
According to Bart Bruyneel, Managing Director of Plant-Based Food Solutions, the deal will help bring innovative products to market faster. “Bunge’s recent innovations, such as their plant-based butter platform, perfectly align with our ambition.”
Terms and completion
The transaction is still subject to approval by competition authorities and is expected to be completed in 2026. Financial details of the acquisition have not been disclosed.
Advisors
For the transaction, Vandemoortele was advised by Rothschild & Co as M&A advisor, Cleary Gottlieb Steen & Hamilton LLP as legal advisor, Linklaters LLP for financing, Deloitte as financial advisor, and PwC as tax advisor.
