US agri-food giant Bunge is selling its European margarine and spreads business to Belgian food group Vandemoortele for an undisclosed sum.
Vandemoortele, a family-owned business with a strong presence in margarines and plant-based oils & fats, will acquire Bunge’s margarines and spreads business in Germany, Finland, Poland and Hungary, along with its associated manufacturing sites, 800 employees and a portfolio of 20 consumer brands.
The Belgian company, which dates back to 1899, said the deal “further reinforces the commitment of its plant-based food solutions business line to support the European food sector transition to more sustainable and tasty plant-based foods”.
Commenting on the deal, Pierre Mauger, St Louis-headquartered Bunge’s chief transformation officer and acting president, food solutions, suggested the assets sold were no longer core to its strategy.
He said: “Bunge’s focus going forward is on global leadership in our integrated value chains in oil seeds and grains, and in our connected oils, emulsifiers and proteins B2B ingredients businesses. We are pleased that the margarines and spreads business will be able to further develop under new ownership.”
Bunge’s margarines & spreads activities in Europe represent a turnover of more than €450m ($486.9m).
In a statement announcing the deal, Yvon Guerin, CEO of Vandemoortele, said: “This acquisition offers an interesting geographic complementarity. We already serve a strong customer base in Western and Southern Europe with high-quality and innovative plant-based products. Now, we can expand our presence in Central Eastern Europe and Scandinavia too.”
Like Vandemoortele, Bunge’s European margarines & spreads business distributes its products across retail and B2B channels.
Just Food has asked Vandemoortele for further details of the assets and brands it is purchasing.
In its 2023 annual report, Bunge said its margarine brand names included Smakowita, Slynne, Maslo Rosline, Masmix, Optima, Finuu, Deli Reform, Keiju, Alentaia, Venusz, Evesol, Carlshamn, Voimix, and Eleplant.
The transaction is subject to merger control and is expected to close in the course of 2026.
