Vandemoortele, a European family-owned food group, has announced it has reached a strategic partnership agreement with Banneton, a 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.