Vandemoortele raises 100 million euros for expansion and acquisitions

Belgian food group Vandemoortele has secured 100 million euros to fund further expansion and strategic acquisitions, the company announced on Friday.

The financing was raised through a mezzanine facility – a form of subordinated loan – with participation from Flemish investment company PMV, investor Tikehau Capital, the Belgian Recovery Fund (Welvaartsfonds), and the Belgian Resilience Fund.

“This package not only allows Vandemoortele to diversify its capital structure, but also provides the financial strength needed to pursue its growth strategy,” the group said in a press release. The company’s priorities include mergers and acquisitions in the consolidating bakery sector, as well as investments in expanding production capacity.

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Headquartered in Ghent, Vandemoortele is Belgium’s largest unlisted food company, producing bakery products, margarines and spreads. It operates sites in Belgium (Eeklo, Ghent, Gellingen, Izegem and Seneffe), the Netherlands (Zeewolde and Brunssum), and across Germany, France, Hungary, Italy, Austria, Poland, Spain, the Czech Republic and the United Kingdom.

In 2024, the group reported just under 2 billion euros in revenue and a net profit of 111 million euros.

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