Blog: Takeover talks surrounds Bidvest's foodservice assets
Dean Best | 8 July 2011
just-food's expertise is in the packaged food manufacturing and food retail sectors but, every so often, a foodservice story emerges about which we feel we should alert our readers.
On Wednesday (6 July), South Africa-listed Bidvest Group said it had had takeover interest in its foodservice operations, which take in markets including the UK, Europe, southern Africa, China and Australia.
Bidvest said it had "recently received various unsolicited proposals" for the assets, which include the UK's 3663 Wholesale and Deli XL in Belgium and the Netherlands.
The company described that its foodservice operations as "an attractive business" and insisted they had "strong growth prospects".
Nonetheless, Bidvest is willing to listen. It said it had set up a "sub-committee" to carry out a "strategic review" of the foodservice business to look at whether the proposals would "optimise value for Bidvest shareholders".
Of course, Bidvest could just be demonstrating its fidicuiary duty. However, the company is clearly taking the approaches seriously and could look to strike a deal.
Reports have linked private-equity firms to the business, which some claim could be worth US$4bn.
The UK's competition regulator has given the all-clear to Hain Celestial's bid to buy UK food and beverage group Orchard House Foods, nine months after the US group announced the deal....
Hershey made an unusual announcement today (20 September), sharing its own sales data for the last four weeks to assuage any possible investor concern over figures released by Nielsen....
As the UK starts to ponder what kind of a relationship it wants with the European Union post-Brexit, EU leaders have been lining up to warn that Britain will not be allowed to "cherry pick" deals and ...
Low food prices continue to hold back inflation rates in the UK as the supermarket price war continues in the face of rising import costs. ...
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