Bidcorp to sell off UK food logistics business | Fin24

Bidcorp to sell off UK food logistics business

Oct 02 2019 11:59
Compiled by Lameez Omarjee

International foodservice group Bidcorp announced on Wednesday that it is selling off its UK-based food logistics business.

Bidcorp operates across five continents in both developed and emerging markets. In a notice to shareholders it stated that it entered into a contract for the disposal of UK-based Best Food Logistics.

Best Food Logistics is non-core asset of Bidcorp's, the group said. The transaction is subject to approval of competition authorities in the UK, and could take several months to finalise.

"There will be no material financial impact on Bidcorp's consolidated net assets or profit for the year ending June 30, 2020 as a result of the transaction," the notice read.

Best Food Logistics has been classified as a discontinued operation in the 2019 financial results, which were released earlier this year in August.

bidcorp  |  uk  |  food  |  business


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