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.
After starting the week with a surprise stock exchange announcement that hit its shares and called into questions its accounting practices, Hain Celestial could be set to receive a boost in the UK....
An indication of how tough trading conditions are in much of Europe emerged today (17 August) with figures from Nielsen suggesting in the second quarter of the year the region's FMCG sector had grown ...
US-based WhiteWave Foods has set a date for its shareholders to seal the deal on the planned US$12.5bn takeover of the group by French dairy giant Danone....
Announced last month, it is one of the more notable M&A deals in the international food sector of 2016. But an organic advocacy group in the US has taken aim at Danone's planned US$12.5bn takeover of ...
- Nestle on China, candy, nutrition - analysis
- Why Jet.com purchase could boost Wal-Mart online
- What lies ahead for Tyrrells and Amplify?
- England child obesity plan should cheer industry
- Hain accounting issue rounds off problem year
- Mondelez buys rest of Vietnam snacks business
- Lotus Bakeries enjoys growth organically, via M&A
- Smucker cuts forecast as sales decline
- Emmi earnings grow but sales outlook lowered
- Unite outlines 2 Sisters stance on UK pizza site