Bidcorp to sell off UK food logistics business | Fin24
 
In partnership with
  • Another VAT hike?

    Absa warns that govt may again announce an increase in value added tax in next month's Budget.

  • SA Revenue Service

    The tax agency says a unit that tackles illicit financial flows has recovered R2.6bn since April 2019.

  • State Capture Inquiry

    Former Eskom chairperson Zola Tsotsi says Tony Gupta threatened to have him removed.

Loading...

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
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...