Bakery Group Vandemoortele Secures Fresh Financing

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Belgian bakery group Vandemoortele has secured €100m ($118.01m) successful backing amid its description push.

The company, known for its bakery products, margarines and spreads, is raising nan costs done a mezzanine finance aliases subordinated indebtedness from Tikehau Capital, nan Belgian Resilience Fund, Flemish finance institution PMV and Welvaartsfonds.

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According to a statement, nan recently secured financing intends to “strengthen” Vandemoortele’s superior framework, enabling nan institution to proceed its attraction connected mergers and acquisitions wrong nan bakery sector.  

Additionally, nan costs will beryllium directed towards enhancing accumulation capacity of nan Ghent-headquartered company.  

Herman Van Steenstraeten, nan CFO of Vandemoortele, said: “This mezzanine financing provided nan last constituent successful establishing a coagulated and diversified building for financing our caller acquisitions.” 

Vandemoortele, established successful 1899, reported a turnover of €1.98bn alongside an operating profit of €256m successful 2024.  

Its buy-and-build strategy saw it complete aggregate acquisitions successful nan past eighteen months, which person contributed an other €1.7bn to its turnover.  

In March, Vandemoortele expanded its portfolio by acquiring bakery patient Délifrance, soon aft purchasing Bunge’s European margarine and spreads section and Italian stiff bakery business Lizzi. 

Last year, nan company besides acquired Italian bakery business Dolciaria Acquaviva and secured a mostly liking successful New Jersey-based Banneton.  

Reporting its financial results for nan first half of 2025 yesterday, Vandemoortele said its gross maturation was supported by these acquisitions.  

Yvon Guérin, CEO of Vandemoortele, added that nan group “delivered coagulated maturation contempt a challenging marketplace environment”.  

“The integration of caller acquisitions successful Italy and nan US drove gross growth, while our teams focused connected improving nan merchandise mix, investing successful innovation, and managing costs,” Guérin said.  

The institution recorded gross of €1.05bn, marking an summation of 10.6% compared to nan aforesaid play successful 2024, driven by nan integration of Banneton, Dolciaria Acquaviva, and Lizzi.  

However, nan adjusted group EBIT stood astatine €70.2m, a alteration of astir 22.51%.  

The attributable group net aft taxation besides saw a decline, reaching €16m, down by astir 72.4% from 2024.  

“Although our bottom-line profitability was little than past year, nan investments and initiatives of nan first half twelvemonth 2025 laic nan instauration for greater ratio and semipermanent growth,” concluded Guérin.  

“The pending acquisitions of Bunge’s European margarines & spreads business and Délifrance will beryllium transformative, broadening our merchandise portfolio and enhancing our world presence.”