HISTORY OF BIDCORP
📊 BID Corporation Ltd (Bidcorp) was founded in 1989 as a division of Bidvest when the company acquired 100% of Chipkins, followed shortly thereafter by the acquisition of Sea World. These acquisitions kick started Bidvest’s foodservice operations in South Africa under Bidcore. The group began to broaden its international market with the acquisition of Manettas in Australia in 1997, Crean Foodservice in New Zealand in 2000, Deli XL in the Netherlands and Belgium in 2006 and Angliss in Singapore and Hong Kong in 2007 amongst others.
📊 In 2019 Bidcorp was unbundled as a division of Bidvest and listed as a standalone entity on the Johannesburg Stock Exchange (JSE) where it currently trades under the stock symbol – BID. The decision to unbundle Bidcorp was made after its stellar performance in the foodservice industry indicated that it would prove more effective as a standalone company. Providing Bidcorp and Bidvest with separate brand identities was considered a crucial step in catapulting Bidcorp’s meteoric rise in the foodservice industry, allowing the company to position itself solidly in the market across its geographical range. Illustrative of this has been the company’s JSE listing, which was made at a value of R90 billion, one of the largest primary listings on the JSE since Vodacom in 2009. As such, the company is poised for both organic and acquisitive growth.
📊 Bidcorp is fast becoming a leader in the food services industry providing a range of services that include catering and food processing to mainly hotels, restaurants and pubs. Today Bidcorp has a wide geographical reach spanning across southern Africa, Europe, Australasia, South America and the Middle East – operating in more than 20 countries to encompass both developed and developing nations.
📊 Bidcorp differentiates itself in the market by relying on the diversity of its operations, creating a comprehensive product offering, while also focusing on on-going range development, logistical capability, market penetration and technology. The company has managed to stay close to its diverse market segments with the use of independent teams that are empowered to make informed and localised business decisions. This local autonomy has meant that Bidcorp is able to cater effectively to its broad customer base in both developed and developing nations globally.
- Bidcorp’s strong JSE listing has meant that the company is able to capitalise on opportunities in the food services industry to create a strong growth strategy while comfortably foreseeing and managing industry risks.
- Because Bidcorp enjoys such a wide global reach it is also able to balance its performance safely on the economic performance of five different continents.
BIDCORP INVESTOR TIPS
- Bidcorp‘s JSE listing allows investors the opportunity to buy into extensive food assets in what is a growing consumer services industry.
- Despite the initial volatility of any new listing on the JSE, Bidcorp’s share price promises a positive growth forecast, as the company is entering its next growth phase which encompasses increased internationalisation.
- While the data from the live online stock charts reflect this initial volatility, analysts are of the opinion that as the company takes advantage of its strong market position to grow its global presence, Bidcorp’s share price will show strong dividends for those who choose to buy into the company’s growing asset portfolio with a low-risk share purchase. For those who want to buy or sell shares view below.