VANDEMOORTELE GROUP

Vandemoortele Group is Belgium’s biggest unquoted food enterprise. The Group focuses on three business segments in which it has European market leadership positions:

• Soy Foods,
• Frozen Dough products and
• Margarines & Fats

These business segments are administered and driven forward by two divisions: the “Soy Foods” division, which takes a “business to consumer” approach and the “Lipids & Dough” division (Margarines & Fats and Frozen Dough products) which is principally “business to business” oriented.

The largest division, the Lipids & Dough division, is one of the market leaders in Europe, offering a particularly comprehensive range of Margarines & Fats and Frozen Dough products.

With its Frozen Dough products, Vandemoortele aims at professional industry users who duly rate the quality and ease of use of the Vandemoortele frozen products in traditional Danish pastries, bread, pastry and American products. Customers here are fresh bakers, “in store” bakeries, “points chauds” and professional consumers in the food service channel.

In Margarines & Fats, Vandemoortele has a number of highly regarded brands in Belgium such as Vandemoortele, Vitelma, Alpro, Fama and Belolive. On a European level however, Vandemoortele focuses on professional industry users of margarines and fats and the sale of private labels to retailers.

The Soy Foods division specialises in the production and sale of Soy products which serve as an alternative for dairy products. Thanks to a keen sense of innovation and an array of technology which is designed in-house, Vandemoortele enjoys market leadership position in Europe, presenting a wide range of natural soy drinks, soy yoghurt and soy desserts which are marketed under the brand names of Alpro and Provamel.

Through its wholly owned subsidiary “Metro”, Vandemoortele is also actively engaged in transport and transport management, both serving the Group as well as third parties. In conclusion, Vandemoortele also owns a 25 % share in “Lipidos Santiga”, the market leader in the refinery of fats in Spain.

In addition to the divisions, Metro and Lipidos Santiga, the Group also has a number of group service departments:

• Group Finance & Administration lays down the overall group policy in the areas of finance and administration, consolidating the annual statements of account and overseeing operational reports, conducting the Group’s treasury and corporate finance management and advising the Group in the area of fiscal policy; this department also includes the Group IT department and the Group’s internal audit department.
• Group Human Resources is responsible for overall group policy in the area of Human Resources, coordinating compensation and benefit processes at group level, the management and organisation development processes and corporate culture, identity and branding processes.
• The General Secretariat handles corporate housekeeping, legal advice for the Group and insurance management for the Group as a whole.
• Finally, there is the Group Health, Safety & Environment department which determines general group policy in the area of health and safety and which advises the Group in these areas.

Operational management of the Group rests with the Group Executive Committee. In addition to the President, the Group Executive Committee consists of the Managing Directors of the two divisions, the Group Finance & Administration Director, the Group Human Resources Director and the Secretary General.