Global agribusiness and food company Bunge has announced an agreement to sell its European margarines and spreads business to Vandemoortele, a family-owned food group in Europe with a strong presence in margarines and plant-based fats.
Through the agreement, Vandemoortele expects to acquire Bunge’s margarines and spreads business in Germany, Finland, Poland, and Hungary, along with its related manufacturing sites and a portfolio of 20 consumer brands. Bunge’s Margarines & Spreads activities in Europe represent a turnover of over €450 million and employ more than 800 people.
Vandemoortele says the acquisition reinforces the commitment of its Plant-Based Food Solutions business line to supporting the European food sector’s transition to sustainable plant-based foods. The company hopes to be a frontrunner in plant-based cheese, creams, sauces, and dressings, as well as margarines and other plant-based fats.
“This acquisition offers an interesting geographic complementarity,” said Yvon Guerin, CEO of Vandemoortele. “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.”
A shift in focus
In 2023, Bunge launched BeLeaf Plant-Based Butter, a clean-label butter alternative designed for commercial bakery applications, in Europe. The product arrived in North America last year.
However, the company has announced plans for a change in strategy in the coming years.
“Bunge’s focus going forward is on global leadership in our integrated value chains in oilseeds and grains, and in our connected oils, emulsifiers, and proteins B2B ingredients businesses,” said Bunge Chief Transformation Officer and acting President of Food Solutions Pierre Mauger. “We are pleased that the margarines and spreads business will be able to further develop under new ownership.”
Though the acquisition agreement has been signed, it is subject to merger control and is not expected to close until 2026. The terms of the transaction have not been disclosed.
