Bidcorp is headquartered in Johannesburg and was established in 1988. The group operates globally in food services which comprises wholesale distribution of frozen, chilled, fresh, and dry foodstuffs, as well as ancillary products, mostly to B2B clients in the HoReCa market (hotels, restaurants, and catering-businesses). Bidcorp is quoted on the Johannesburg stock exchange and generates close to EUR 10 billion in revenues. The group has significant investments in over 50 businesses and currently has approximately 25,000 employees.<\/p>\n
Pier 7 Foods Import GmbH distributes fresh and frozen food to the food and gastro-hotel industry in Germany and Austria.<\/p>\n
The acquisition of Pier 7 Foods accomplishes Bidcorp\u2019s objective of market entry into Germany. Pier 7 customers include well-known restaurant chains and hotels. Bidcorp and Pier 7 Foods will assess other strategic partnering opportunities in the upcoming months. The investment in Pier7 Foods in Germany is a further milestone in Bidcorp\u2019s growth strategy in Europe and comes on the heels of its acquisition of the Spanish Guzman Group.<\/p>\n
The acquisition of Pier 7 represents the second transaction that Clairfield International has advised for Bidcorp. In 2014 Clairfield International advised on Bidcorp\u2019s Italian market entry with the acquisition of Gruppo DAC.<\/p>\n
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