Bidcorp, Belgian food ingredients distributor establish JV
Bidcorp Food Africa, a subsidiary of JSE-listed Bid Corporation (Bidcorp), has signed agreements with Belgian ingredient distributor Puratos Group, which will become an equal shareholder in Bidcorp Food’s Bakery Solutions Division (BBS).
BBS manufactures and supplies bakery ingredients to industrial bakers, the craft market and large retailers under the Chipkins and NCP brands in South Africa.
“The proposed transaction provides BBS with an opportunity to grow its existing business and to develop new products and tailor-made solutions for the South African baking industry,” Bidcorp CEO Bernard Berson said in a statement on Wednesday.
He added that the acquisition would help BBS further develop the booming African market.
Puratos CEO Daniel Malcorps added that the Brazilian group was aiming to expand further in Africa.
“Not only does [this agreement] help us strengthen our global presence, but it also gives us the opportunity to bring the same Puratos quality ingredients to every baker on the continent. With this investment, we also aim to accompany our industrial and retail customers who look at Africa, just as we do, as the next big frontier,” he said.
The deal is subject to approval by South Africa’s competition authorities and the South African Reserve Bank.
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