Belgium-based food group Vandemoortele is looking to sell its soy foods business Alpro.
The company said the sale comes as it looks to focus on its frozen bakery and lipids divisions.
Combined sales from these businesses represent about 80% of the group’s turnover, a spokesperson for the company confirmed to just-food today (22 January).
“We want to focus on areas where our strength lies and expand our business reach in frozen bakery and margarines and fats,” the spokesperson said.
“Proceeds from the sale would help us progress toward this end,” the spokesperson said. However, the company declined to comment on how much it hopes to raise through the sale.
Vandemoortele’s frozen bakery and lipids units primarily sell into the food service sector, while Alpro’s sales are generated from consumer retail, the company said.
Announcing that it was putting the unit on the block, Vandemoortele described Alpro as “the European market leader in soy food products and has realised a strong and profitable growth during the past seven years”.
Alpro manufactures the Alpro Soya and Provamel brands.