Vandemoortele announced the acquisition of Dolciaria Acquaviva SpA from Apheon, a mid-market private equity firm, and the Acquaviva family. The Italian business is an established manufacturer of frozen pastry, patisserie, and savory specialties.
Vandemoortele announced it established a new partnership with Banneton, a manufacturer of premium freezer-to-oven croissants, Danishes and pastries in North America. As part of the agreement, Vandemoortele will acquire a majority stake in Banneton, while Victor and Alex Litinetsky, founders of Banneton, will stay invested in the capital and continue to lead the day-to-day management of the business after closing.
Vandemoortele, the producer of deep-frozen baked goods as well as oils, fats and margarines, announced it would increase its presence on the Swiss market.
Belgium’s Vandemoortele is building a new factory in Torcé in Brittany, to support the production of coffee cake, a market with an annual growth of 3-5%.
