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.

This acquisition strengthens the presence of Vandemoortele in the US. The transaction will close as soon as satisfaction of all conditions has been obtained—including required regulatory clearance in the US. 

Founded in 2008 in Swedesboro, New Jersey, Banneton is known for baking premium, clean-label products. Banneton Bakery is currently owned by Victor and Alex Litinetsky and Encore Consumer Capital, a private equity investment firm focused on the consumer products industry.

Jean Vandemoortele, Chairman of the Board of Vandemoortele, commented on the new partnership: “This transaction represents a historic and important milestone for Vandemoortele of having the first production platform in the U.S.”

Yvon Guerin, CEO of Vandemoortele, also said: “Banneton Bakery’s operations and offerings highly complement our own business in North America, with a shared focus on quality and on authentic European-style pastry products. This partnership will allow us to provide significant additional value to our customers, business partners and associates.”

Victor Litinetsky, Founder and President of Banneton, commented on the new endeavor: “Our advanced manufacturing process and infrastructure in the U.S. and our very strong value proposition to customers are a perfect match for Vandemoortele’s premier bakery expertise, brand recognition and global presence.  We are very excited to partner with Vandemoortele and pursue our growth journey together.”

Photo: Vandemoortele