Ghent, 17 January 2009 - The financial and macro-economic environment has fundamentally changed during the last months. In this context Group Vandemoortele has decided to focus on the activities Bakery (frozen bakery products) and Lipids (margarines and fats), representing together 80% of the Group's turnover and essentially oriented towards professional and industrial customers.
Group Vandemoortele is traditionally strong in those segments and wants to further expand in Europe in these activities. Within the framework of this change of strategy the group prepares the selling process of its soy business Alpro, which is oriented towards the end consumer.
This strategic decision offers the best opportunities for future growth to each of the three activities, which are all three market leaders and generate all three solid operational cashflows. The sale of Alpro and the ongoing capital increase of Group Vandemoortele will bring in the necessary resources to pursue the expansion in Bakery and Lipids. Thanks to the recent takeover of Panavi, French market leader in frozen bakery products, Vandemoortele is amongst the European leaders in this market segment, which grows at an annual rate of more than 5%. Vandemoortele is also strengthening its leading position in margarines and fats.
Alpro is European market leader in soy food products and has realised a strong and profitable growth during the past seven years with its brands Alpro Soya and Provamel. Alpro meets two fundamental food trends, i.e. health and sustainable development. By splitting off its soy foods activities Vandemoortele wants to ensure the further successful growth of Alpro with a strong new partner.