Blog: Dean BestTakeover 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.


BLOG

Olam to become "global leader" in cocoa with ADM deal

Singapore-based agribusiness group Olam International is to become a major international cocoa supplier after announcing a US$1.3bn deal for Archer Daniel Midlands' cocoa business....

BLOG

German watchdog rebukes retailers Edeka and Tengelmann

Germany's competition watchdog has issued an interim injunction against retailers Edeka and Tengelmann over their planned deal over the Kaiser's supermarket chain....

BLOG

Big business backs Aldersgate call for more equitable UK

The Aldersgate Group - an alliance of big business, NGOs and civil society pushing for a "sustainable economy" - has set out a new campaign calling for the introduction of a fiscal policy that tackles...

just-food homepage



Forgot your password?