GHENT, BELGIUM — Vandemoortele, a leading European family-owned food group, announced it has reached a strategic partnership agreement with Swedesboro, NJ-based Banneton Bakery, Inc., a North American producer of premium freezer-to-oven croissants, Danishes and pastries.
As part of the agreement, Vandemoortele will acquire a majority stake in Banneton. Vandemoortele owns brands such as Banquet D’Or, which also produces freezer-to-oven croissants
Banneton Bakery’s founders, Victor Litinetsky, president, and his son, Alex Litinetsky, executive VP, will continue to lead day-to-day operations.
“Banneton Bakery’s operations and offerings highly complement our own business in North America, with a shared focus on quality and authentic European-style pastry products,” said Yvon Guerin, CEO of Vandemoortele. “This partnership will allow us to provide significant additional value to our customers, business partners and associates.”