The deal is geographically interesting for the Belgian group. “We are already serving a strong customer base in Western and Southern Europe with high-quality and innovative vegetable products. Now we are adding a wider presence in Central Eastern Europe and Scandinavia,” says Vandemoortele CEO Yvon Guerin.
In addition, Bunge is strong in B2C-Retail, the sale of its own brands directly in supermarkets. Vandemoortele does B2C in Belgium, but is mainly active outside the home market in B2B, sale to industrial customers.
The agreement still has to pass through the regulators. Vandemoortele expects to be able to complete the transaction only in the course of next year.