This summary puts our financial history into context.
The Nowaco Group, foodservice businesses operating in
Czech Republic, Slovakia and Poland were acquired for €250
The Bidvest business model was tested by the worst economy in its
21year history and has risen to the challenge of the “new normal”.
R1,5 billion raised via domestic loan. Viamax acquisition concluded.
Revenue exceeds R100 billion for the first time. First carbon
footprint analysis prepared.
Acquired 100% of Angliss, a leading foodservice wholesaler and
distributor in Singapore, Hong Kong and China. Negotiations finalised
to acquire Viamax Holdings. Rennies Bank renamed Bidvest Bank.
Black economic empowerment partnership with Dinatla Consortium
refinanced and extended for five years. A R4,5 billion domestic mediumterm
note programme set up.
Acquired 100% of Netherlands foodservice company, Deli XL and a
controlling stake in Horeca Trade, a small Dubai-based foodservice
distributor. Concluded sale of Dartline Shipping for GBP58,9 million
(R650 million) and loss-making Lithotech France. Global footprint
expanded through investment to develop and operate Mumbai
International Airport. Non-executive component of the board
Cyril Ramaphosa takes the reins as chairman. Successful buyout of
Bidcorp plc minority interest. Acquisition of 20% of Tiger Wheels.
G. Fox acquired.
R2,1 billion BEE transaction for 15% of Bidvest with Dinatla
finalised. McCarthy, South Africa’s second largest motor retailer,
acquired for R980 million. Acquisition of minority interests of Bidvest
The Bidvest Academy, a Group training and development
programme, launched. Ground-breaking black economic
empowerment initiative with Dinatla Investment Holdings
announced. Danel acquired and renamed Lithotech France. Small
strategic foodservice acquisitions in the United Kingdom, Australian
and New Zealand markets.
Acquisition of 56,7% of LSE-listed Jacobs Holdings plc, which
was renamed Bidcorp plc. Paragon acquired and merged with
Lithotech. Remaining 68% of Voltex acquired to form part of the
Commercial Products division. The minority shareholding in I-Fusion
John Lewis Foodservice acquired and incorporated into Bidvest
Australia, creating the leading foodservice distributor in Australia.
The Group-wide area network, Bidnet, developed by I-Fusion.
mymarket.com, Bidvest’s e-commerce initiative, launched.
Acquisition of Island View Storage. Banking licence granted to
Rennies Bank and 77% of I-Fusion acquired. Bidvest plc enters
the New Zealand foodservice market with the acquisition of Crean
Foodservice, renamed Crean First for Foodservice.
Booker Foodservice, renamed 3663 First for Foodservice, acquired
by Bidvest plc. Acquisition of Rennies Group.
Bidvest plc, incorporating Bidvest Australia, was created with dual
listings in Australia and Luxembourg. Acquisition of Lithotech.
100% of Waltons Group acquired, Bid Corporation unbundled and
Bidvest incorporated into the JSE industrial index.
Empowerment programmes begin with Women Investment
Portfolio Holdings and Worldwide African Investment Holdings each
acquiring a 5% shareholding in Bid Corporation.
First steps to international expansion taken – 50,1% of Australian
Stock Exchange-listed Manettas acquired and renamed Bidvest
Rights offer raises R300 million, 10-for-1 share subdivision.
Safcor Freight acquired – the start of Bidfreight. Prestige Cleaning
Services acquired and grouped with Steiner to form Bidserv.
Crown Food Holdings acquired and merged with National Spice to
form Crown National.
Acquisition of Steiner Services – beginning of the hygiene services
Bid Corporation becomes the pyramid holding company of Bidvest.
Acquisition of Afcom.
Chipkins, the first acquisition, followed shortly thereafter by Sea
World. The start of Bidfood.