Vandemoortele Acquires a Majority Stake in Banneton Bakery
European family-owned food group
Vandemoortele announced a strategic partnership agreement with Swedesboro, N.J.-based Banneton, a manufacturer of freezer-to-oven croissants, Danishes and pastries in North America.
As part of the agreement, Vandemoortele will acquire a majority stake in Banneton, while Victor and Alex Litinetsky, founders of Banneton, will stay invested in the capital and continue to lead the day-to-day management of the business after closing.