Global agribusiness and food company Bunge has entered into a definitive agreement to acquire Westfälische Lebensmittelwerke Lindemann GmbH & Co. KG, a German supplier of oils and fats.

Established in 1902 in Bünde, East Westphalia, the family-owned business has grown to become one of the leading suppliers of oils and fats to both the industrial and artisan channels of the German bakery market.

In a statement released on 13 March, Bunge said the Lindemann portfolio was an “excellent fit” for it and would allow the company to offer a broader range of products in response to consumer trends and requirements.

“This acquisition will allow us to build a more robust and balanced B2B oil and fat business by expanding our portfolio and capabilities to the bakery segment,” said Tommy Jensen, CEO of Bunge EMEA.

“It will enable us to strengthen our presence in northwestern Europe that we have established with our existing assets and our recent acquisition of Walter Rau Neusser,” Jensen added.

Bunge’s subsidiary, Bunge Deutschland GmbH, acquired the majority stake in German edible oils and fats producer Walter Rau Nesser Öl und Fett AG from holding company Cremer Group in April 2016.

Bunge has completed a slew of other acquisitions within the past year as well, including the takeover of Turkish olive and seed oil producer Ana Gida in December 2016 and two oilseed crushing plants from Cargill in February 2017.

The Cargill deal included a soyabean and rapeseed crush and soyabean refining facility, along with a part of a bulk port terminal, in the Port of Amsterdam, the Netherlands, and a soyabean and rapeseed crush plant in the Port of Brest, France.

Additionally, Bunge formed in February 2017 a join venture with Saudi shipping firm Bahri Dry Bulk Company to establish an ocean freight supplier for dry bulk import and export flows in and out of the Middle East.

The Dubai-based Bunge Bahri Dry Bulk Ltd is planning to ship more than 5M tonnes of freight in one year and is aiming to increase this number to double digits over time.