South African Conglomerate Branches Out Into Eastern Europe

South African diversified conglomerate Bidvest has agreed to acquire full ownership of Czech Republic and Poland-based food distributors Nowaco and Farutex from CCMP Capital and Bancroft Private Equity in a deal worth about EUR250mn. The expansion forms part of Bidvest's strategy to further internationalise its food distribution business, which currently spans a number of developed markets across Western Europe in particular. BMI believes that Poland with its 38mn strong population is a particularly attractive market. Through to 2013, we have forecast food consumption in the country to increase by 30.9% and reach US$40.7bn.

To read the full article, please choose one of the following options: