Groep Vandemoortele is a family-owned Belgian foods group with a European dimension. It manufactures and sells high-quality food products in two segments: frozen bakery products (Bakery Products) and margarines and fats (Lipids). Both divisions are in the European top. In 2014, Vandemoortele posted sales of around EUR 1.3 billion. The group employs ca. 4700 people in 15 sales and 34 production facilities in 12 European countries. Following the acquisition of Panavi in 2008, the French number one in frozen bakery products, Vandemoortele conducted a strategic reorganization in which the soybean division was sold. Then in 2010, the group acquired the margarines & fats activities of Van Dijk Food Products and in 2015 LAG (Italy), producer of frozen bread (savoury products). In May 2016, Safinco NV, the holding company of the family shareholders of Vandemoortele NV, announced that is has reached an agreement to acquire Gimv’s 23.58% stake in Vandemoortele NV.