MULTINATIONAL
Puratos to buy half of Bidcorp Bakery
Bid Corporation (Bidcorp), the food services conglomerate, announced on Wednesday the sale of half of its subsidiary Bidcorp Bakery Solutions (BBS) to Brussels-based Puratos Group. The value of the deal was not disclosed. Bidcorp financial director David Cleasby said the value was relatively small compared with the broader Bidcorp business, but stressed this should not underplay the transaction’s strategic importance. BBS, which is mainly a manufacturer and supplier of bakery ingredients to South African clients, houses two stalwart Bidcorp companies in the form of Chipkins and NCP. Puratos is a €1.6bn turnover business with operating profits of more than €160m. The company specialises in manufacturing and marketing ingredients for the global bakery, patisserie and chocolate sectors to markets in more than 100 countries. Judging by press statements issued after the deal, it seems Puratos is keen on capitalising on the ability of BBS to tap into lucrative African markets.
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