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Good operational results 2009
Vandemoortele Group realised good operational results in 2009, this in spite of the difficult economic context. The company realised a turnover of 1.1 billion EUR and profit from operations (EBIT) of 57 million EUR. This result is higher than the two previous years, in absolute numbers as well as compared to turnover. The group also has a strong balance sheet: equity is 4 times higher than net financial debt.
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Acquisition of Van Dijk Food Products
Groep Vandemoortele has concluded an agreement to take over the margarine and frying fats activities from Dutch company Van Dijk Food Products. Van Dijk Food Products is part of the EFS Group BV. This agreement still is subject to the approval of the competent competition authorities.
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Agreement to acquire Alpro
Vandemoortele, Belgium’s largest privately-held food company, and Dean Foods Company (NYSE:DF) announced an agreement for Dean Foods Company to acquire Vandemoortele’s Alpro Division. The transaction’s price is approximately €325 million. It is expected to be completed in the third quarter.
(June 2009)
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Gimv invests
Gimv and Vandemoortele Group announce that the Gimv-XL fund has reached agreement with Vandemoortele Group to invest EUR 75 million in the food group in view of strengthening its equity.
(March 2009)
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Focus on Bakery and Lipids
Group Vandemoortele has decided to focus on the activities Bakery and Lipids and prepares the selling process of its soy business Alpro.
(Januari 2009)
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Acquisition of Panavi
Group Panavi is the French market leader in frozen bakery products, with a turnover of 307 million euro in 2007. The Group has twenty-two factories, seventeen distribution centres and well over 2,000 employees in France. With this take-over, Vandemoortele is ranking itself among the European top in the sector of frozen bakery products.
(June 2008)
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