Bid Corporation (Bidcorp) has secured a 90% stake in Spanish company Guzmán, to expand into regions that offer growth in the out-of-home food-service market. Bidcorp has not disclosed the purchase price. Guzmán specialises in the supply of fresh fruit and vegetables and has "a range of gastronomic and value-added products including salads, handcrafted bread". "The Spanish food-service market continues to demonstrate high growth potential buoyed by improved macro-economic conditions, with a steady increase in foreign tourism numbers," Bidcorp said on Wednesday. Bidcorp was spun off from Bivest Group, which was founded by business veteran Brian Joffe.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.