GHENT, BELGIUM — Family-owned European food company Vandemoortele is set to expand its baking footprint with the announcement it has entered an agreement to acquire Délifrance from French grain cooperative Vivescia Industries. Financial terms of the transaction were not disclosed.

Délifrance is one of Europe’s leading frozen baked foods makers, with a network of 14 production sites, more than 3,200 employees and annual turnover of approximately €930 million ($1 billion). The company’s main presence is in Europe and Asia, where it serves artisan bakers, retailers and foodservice operators.

Vandemoortele said the addition of Délifrance will create a combined company with annual turnover of nearly €2.4 billion, allowing the new business to “shape the future of frozen bakery through international expansion, providing innovation and value-added services and solutions to retail and foodservice partners, and accelerating ambitious sustainability plans.” The combined company will offer customers a complete range of viennoiseries, Danish pastries, artisanal bread, donuts, Italian savouries and patisserie products under brands such as Délifrance, Banquet d’Or, Doony’s, Lanterna, Acquaviva and Lizzi.

“We will be delighted to welcome Délifrance into the Vandemoortele family,” said Jean Vandemoortele, chairman of the board of Vandemoortele. “This will be a historic partnership with a compelling strategy and culture fit.”

Yvon Guerin, chief executive officer of Vandemoortele, added, “We respect the heritage and expertise that Délifrance represents. This new combination will allow us to create powerful synergies in terms of accelerated growth, customer service, product range, innovation and branding. We will bring together great talent from both parties and create new opportunities for all our associates. With a robust investment plan, we are convinced we can accelerate future growth.”

The transaction would be the second major acquisition undertaken by Vandemoortele in the frozen baked foods category in recent months and the second acquisition announced overall this week. On March 27, Vandemoortele agreed to acquire Bunge’s margarines and spreads business in Germany, Finland, Poland and Hungary, including its spreads and margarine manufacturing facilities and a portfolio of 20 consumer brands.

In February, Vandemoortele acquired Italian frozen bakery Lizzi from Forno d’Asolo SpA. Founded in 1973, Lizzi produces and distributes a wide variety of frozen products, including pastries, patisseries, bread, pizzas and focaccias. The company has turnover of €70 million, employing more than 240 people and operating four production plants in Northern Italy, Vandemoortele said.