Bidvest reports thumbs-up for unbundling food service unit
THE Bidvest Group on Friday updated its strategy and the general trading conditions in the Bidvest Industrial and Bidvest Namibian operations in light of the proposed unbundling of the foodservice business into Bidcorp.Executive management of Bidvest Industrial, excluding foodservice, said a recent inaugural international roadshow had indicated overall positive sentiment."Management remains focused on executing the strategic, decentralised entrepreneurial plan to organically grow their businesses," the management said.This meant establishing market-leading positions within each industry in Bidvest Industrial and Bidvest Namibia. Bidvest Industrial was within the group’s South African division.The proposed unbundling would result in Bidvest Industrial being a locally based and focused trading, services, and distribution business with an annual turnover of about R100bn and operating earnings of about R7bn, based on the previous year’s audited results.Bidvest Industrial is made up of s...
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