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Bunge Global SA has entered into an agreement to divest its European margarines and spreads division to Vandemoortele, a prominent family-owned food group based in Europe.

This transaction includes Bunge's manufacturing operations in Germany, Finland, Poland and Hungary, along with a portfolio of 20 consumer brands. The completion of the sale is contingent upon customary closing conditions, including regulatory approvals.

Bunge's decision to divest its margarines and spreads business allows it to concentrate on its core competencies in oilseeds, grains and B2B ingredients. This strategic focus can enhance operational efficiency and profitability.

Pierre Mauger, Bunge’s chief transformation officer and acting president of food solutions, said: "Our focus moving forward is on establishing global leadership in integrated value chains related to oilseeds and grains, as well as in our B2B ingredients businesses involving oils, emulsifiers and proteins". He expressed optimism that Vandemoortele would effectively nurture the margarines and spreads business under its stewardship.

Vandemoortele, known for its strong foothold in the margarines and plant-based oils sector, aims to leverage this acquisition to bolster its market presence and expand its product offerings. The move aligns with current trends in the food industry, where plant-based and sustainable options are increasingly in demand.

With Vandemoortele's established expertise in margarines and plant-based oils, the acquisition could lead to enhanced product innovation and development, benefiting consumers and businesses alike.

Bunge, listed on the New York Stock Exchange, has a long-standing history of connecting agricultural producers with consumers, focusing on food security and sustainability. With operations in over 40 countries and approximately 23,000 employees, the company is a key player in the global food supply chain.