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.
A quick note to say we are closed on Monday (25 August) for a public holiday in England and Wales - but there's plenty for you to peruse on the site before we return on Tuesday....
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