Vandemoortele Receives Private Equity Investment, Looks For Alpro Buyer

Belgium-based private equity fund Gimv-XL has agreed to invest EUR75mn in food firm Vandemoortele, in return for a 'substantial minority stake'. Vandemoortele has built up substantial debts with a string of acquisitions and, under pressure from its creditors, has put its soy foods business Alpro up for sale. The cash injection from Gimv-XL will not prevent this sale going ahead, but it will give Vandemoortele some breathing space and allow the firm to maximise the chances of receiving a favourable price for Alpro, which is the European market

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