Alantra advises Vandemoortele on the acquisition of Banneton Bakery

Apr 2024

Buy-side advisory

Boston and New York – Alantra, the independent global mid-market financial services firm, has advised Vandemoortele, a leading European family-owned food group, on the acquisition of Banneton Bakery, a high-quality manufacturer of premium freezer-to-oven croissants and danishes. The deal represents Vandemoortele’s entry into the U.S. production landscape and strengthens its position in the high-growth North American market for European-style bakery offerings.

Founded in 1899 and headquartered in Belgium, Vandemoortele has built an exceptional reputation for its commitment to quality, sustainability, and the finest European baking traditions. The company’s diverse portfolio of high-quality food products is sold across Europe, the U.S., and Asia.

Banneton Bakery, established in 2008 and based in New Jersey, is a leading U.S. manufacturer of premium frozen croissants, danishes, and other upscale pastry items. The company’s best-in-class products and production capabilities highly complement Vandemoortele’s existing North American business.

Jean Vandemoortele, Chairman of the Board of Vandemoortele, says: “This transaction represents a historic and important milestone for Vandemoortele of having a first production platform in the U.S.”

Yvon Guerin, CEO of Vandemoortele, says: “Achieving this partnership with Banneton Bakery will allow us to provide significant additional value to our customers, business partners and associates. Alantra’s guidance and ability to leverage their bakery sector M&A experience, enabled us to successfully navigate a highly competitive transaction process.”

Josh Garver, Managing Director at Alantra says: “We are excited to support Vandemoortele’s strategic expansion in the high-growth North American bakery market, and to facilitate the collaboration of these two complementary family businesses.” 

Jeff Robards, Managing Director at Alantra added: “This deal is a great example of Alantra’s ability to combine our deep bakery sector expertise with our proven approach to cross border acquisitions in order to deliver a great outcome for our clients.”