Vandemoortele, a leading European family-owned food group, has announced that it has reached a strategic partnership agreement with Banneton, a high-quality manufacturer of premium 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.

With a local production platform, Vandemoortele will be able to better serve US customers.

“This transaction represents a historic and important milestone for Vandemoortele of having a first production platform in the US,” says Jean Vandemoortele, chairman of the board of Vandemoortele.

“Banneton Bakery’s operations and offerings highly complement our own business in North America, with a shared focus on quality and on authentic European-style pastry products. This partnership will allow us to provide significant additional value to our customers, business partners and associates,” says Yvon Guerin, chief executive officer of Vandemoortele.

“Our advanced manufacturing process and infrastructure in the US and our very strong value proposition to customers are a perfect match for Vandemoortele’s premier bakery expertise, brand recognition and global presence.  We are very excited to partner with Vandemoortele and pursue our growth journey together,” says Victor Litinetsky, founder and president of Banneton.