Bidvest Vested interest…oh, shut up.
Among the South African businesses building the foundation of vast international holdings this week was Bidvest, which has recently acquired 60% stakes in both Gruppo Dac S.p.A. (DAC), a family-owned food and beverage distributor in Italy and PCL 24/7, a specialist chilled products distributer in the United Kingdom, nabbing the pair of a cool £95million sterling. Bidvest Foodservices, which contributes 34% to group revenues, offers a range of well, food services, and products to a range of clients from the retail sector through to industrial catering. These include private label products, finished products, fresh produce, food ingredients, meat, seafood, and equipment and logistics solutions. The focus for Foodservices, according to CEO Bernard Berson, is not one grand overarching strategy, but “a mosaic of small but significant local successes.”
Comment: Oh, I say.