“Market Cap $8.77 B As of May 2014
At a Glance
- Industry: Conglomerates
- Founded: 1988
- Country: South Africa
- CEO: Bernard Joffe
- Website: www.bidvest.com
- Employees: 106,371
- Sales: $17.37 B
- Headquarters: Johannesburg
#1006 Global 2000
- #546 in Sales
- #1094 in Profit
- #1223 in Market value
The Bidvest Group Ltd. operates as an investment holding company with its subsidiaries operating in the services, trading and distribution industries. It operates through four divisions: Bidvest South Africa, Bidvest Foodservice, Bidvest Namibia and Bidvest Corporate. The Bidvest South Africa division offers automotive, electrical, financial services, freight, industrial, office, paperplus, rental, travel & aviation products and services. The Bidvest Foodservice division operates as foodservice product distributors to independent business units servicing the catering, hospitality, leisure, bakery, poultry, meat and food-processing industries. The Bidvest Namibia division operates as the holding company for Bidvest’s interests in Namibia, which include fishing and similar commercial businesses to those of Bidvest in South Africa. The Bidvest Corporate division provides strategic direction, financial, risk and sustainability management, marketing, investor relations, corporate communications, corporate finance, houses investments and provides executive training to the group. The company was founded by Mervyn Chipkin and Brian Joffe in 1988 and is headquartered in Johannesburg, South Africa.“
“Bidvest Group History
2013 – Acquisition of Aktaes Holdings, the Mansfield Group and Home of Living Brands, formerly Amap. Lorato Phalatse appointed as new chairperson 2013.
2012 – Acquisition of Deli Meals in Chile, Bidvest’s first entry into South America.
2011 – Seafood Holdings, market leading fresh fish foodservice business in the United Kingdom acquired for GBP45 million. Realignment of South African based businesses (excluding food businesses) into Bidvest South Africa. Businesses grouped into similar product and service offerings.
2010 – The Nowaco Group, foodservice businesses operating in Czech Republic, Slovakia and Poland were acquired for €250 million.
2009 – The Bidvest business model was tested by the worst economy in its 21year history and has risen to the challenge of the “new normal”.
2008 – R1,5 billion raised via domestic loan. Viamax acquisition concluded. Revenue exceeds R100 billion for the first time. First carbon footprint analysis prepared.
2007 – 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.
2006 – 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 strengthened.
2005 – Cyril Ramaphosa takes the reins as chairman. Successful buyout of Bidcorp plc minority interest. Acquisition of 20% of Tiger Wheels. G. Fox acquired.
2004 – 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 plc.
2003 – 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.
2002 – 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 acquired.
2001 – 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.
2000 – 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.
1999 – Booker Foodservice, renamed 3663 First for Foodservice, acquired by Bidvest plc. Acquisition of Rennies Group.
1998 – Bidvest plc, incorporating Bidvest Australia, was created with dual listings in Australia and Luxembourg. Acquisition of Lithotech.
1997 – 100% of Waltons Group acquired, Bid Corporation unbundled and Bidvest incorporated into the JSE industrial index.
1996 – Empowerment programmes begin with Women Investment Portfolio Holdings and Worldwide African Investment Holdings each acquiring a 5% shareholding in Bid Corporation.
1995 – First steps to international expansion taken 50,1% of Australian Stock Exchange-listed Manettas acquired and renamed Bidvest Australia.
1994 – Rights offer raises R300 million, 10-for-1 share sub-division.
1993 – Safcor Freight acquired the start of Bidfreight. Prestige Cleaning Services acquired and grouped with Steiner to form Bidserv.
1992 – Crown Food Holdings acquired and merged with National Spice to form Crown National.
1991 – Acquisition of Steiner Services beginning of the hygiene services business.
1990 – Bid Corporation becomes the pyramid holding company of Bidvest.
1989 – Acquisition of Afcom.
1988 – Chipkins, the first acquisition, followed shortly thereafter by Sea World. The start of Bidfood.”
*Information from Forbes.com and Bidvest.com
**Video published on YouTube by “Bidvest Group“