EU regulator reviews Vandemoortele “commitments” in Délifrance takeover

The EU regulator is reviewing certain concessions submitted by Belgium bakery group Vandemoortele for the approval of its takeover of peer Délifrance.

Documents on the European Commission’s website show its competition arm was notified about the deal in October even though it was revealed by family-owned Vandemoortele back in March for an undisclosed sum.

A new provisional deadline of 18 December has now been set by the regulator to assess what it states are “commitments” submitted by the Belgium group on 27 November.

However, when contacted by Just Food, the antitrust body declined to comment further on what those commitments might be, citing policy. Vandemoortele had not responded to a request for comment at the time of writing today (1 December).

In a notice filed on 7 November, the Commission said it found, based on a “preliminary examination”, that the takeover of Délifrance “could fall within the scope of the merger regulation”.

On that initial assessment, it invited comments from third parties to submit “observations on the proposed concentration” within a ten-day window, which has now passed. Developments between the regulator and Vandemoortele since then have not been revealed aside from the commitments presented.

Vandemoortele had said in March that the combination with Délifrance would create a €2.4bn ($2.7bn today) bakery group, providing “solutions to retail and foodservice partners”.

Délifrance, a subsidiary of the French grain cooperative Vivescia Group, generated a turnover of around €930m in the year through June, the Belgium business said in a statement at the time.

Délifrance operates 14 production facilities, employs more than 3,200 staff and supplies retail and out-of-home customers across Europe and in Asia.

Vandemoortele itself already has 28 manufacturing plants and 3,500 workers, with its bakery products business generating an estimated turnover of €1.4bn.

It has expanded through two other recent acquisitions: the European margarine and spreads business of Bunge in March and Lizzi, the Italian producer and distributor of frozen bakery products, in February.

As well as Lizzi, the company’s frozen bakery brands include Banquet d’Or and Lanterna, while the business also produces for private-label clients. It supplies markets in Europe and the US.

Last year also saw Vandemoortele make a clutch of other acquisitions, including the purchase of Italian bakery business Dolciaria Acquaviva and a majority stake in New Jersey-based peer Banneton.

The combination with Délifrance will expand Vandemoortele’s offering of viennoiseries, Danish pastries and artisanal breads.

Vandemoortele issued its first-half results in September showing revenue climbed 10.6% to €1.05bn.

“Growth was mainly driven by bakery products, supported by the integration of Banneton, Dolciaria Acquaviva and Lizzi,” the company said.

Adjusted EBITDA for the group business was reported as €124.7m, comparable with the all-time high of €125.1m for the year-earlier half.

Adjusted group EBIT fell to €70.2m from €90.6m. Earnings after tax (EAT) were €16m versus €57m.

CEO Yvon Guérin said: “Although our bottom-line profitability was lower than last year, the investments and initiatives of the first half year 2025 lay the foundation for greater efficiency and long-term growth.

“The pending acquisitions of Bunge’s European margarines & spreads business and Délifrance will be transformative, broadening our product portfolio and enhancing our international presence.”

"EU regulator reviews Vandemoortele “commitments” in Délifrance takeover" was originally created and published by Just Food, a GlobalData owned brand.

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