Global food service group Bidcorp had found a buyer for its unwanted noncore UK logistics business, Foodcorp CEO Bernard Berson said on Wednesday. Though he declined to name CD’s potential buyer, he said it was "a major global player". The sale of Contract Distribution (CD) will enable Bidcorp to focus on its Food service and Fresh businesses. According to Bidcorp, the disposal, which could take up to four months to complete, is in line with its strategy of quitting low-margin logistics activities. Berson spoke after the release of the company’s results for the year to June 30, in which it announced improvements in earnings, profit and net revenue. He said that the company would announce details of the deal in two weeks. Berson also did not disclose the value of the transaction, but said the company would not make money out of the business it acquired in 1999. "Since we acquired it, it has never been a great business. It has never made any real return… It is noncore; it is time for ...
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