Bidvest Group Ltd. Acquires Adcock Ingram, According to BAC Report30 Jan 2013 • by Natalie Aster
LONDON – In December 2012 Bidvest Group purchased 2 million shares of pharmaceutical giant Adcock Ingram. The price of the deal comprised ZAR 111 M. This acquisition followed the purchase of Mvelaserve services group in 2011. Bidvest therefore is clearly interested in buying undervalued companies’ stakes. The value of Adcock Ingram shares acquired by Bidvest is non-influential, and the company might make further stake buyouts. Bidvest Group already owns influential stakes in Cullinan, Comair, Amaps and Cargo Carriers.
Bidvest Group delivered good results at the end of its financial year in June 2012. Revenue increased by 12.7% to ZAR 133.5 B due to Rand weakness and strong markets of Europe and Asia. Gross profit added 11.2% and reached ZAR 27.3 B thanks to wise capitalization and positive exchange rates fluctuations. Operating income gained 22.1% and amounted to ZAR 7.14 B, while net income rocketed by 25.5% to ZAR 4.44 B provided by partial disposal of Mumbai International Airport Pvt Ltd shares.
Current economic situation is volatile, the state of European market is unpredictable. Bidvest stays on its course of decentralised and entrepreneurial business model. South African market is not expected to improve in 2013, Asian region also shows some signs of slowdown. The company will commit acquisition steps if it sees some good opportunity to expand in new and existing markets.
Formed in 1993 and headquartered in Johannesburg (South Africa), Bidvest Group engages in trading and distribution across the globe. The group is decentralized and divided into 4 divisions: Bidvest South Africa, Bidvest Foodservice, Bidvest Namibia and Bidvest Corporate. Each division has its own management and strategy. Bidvest South Africa provides a vast variety of cervices in South Africa: from financial to rentals. Bidvest Foodservice is a food retailer operating in Europe, Asia Pacific and Southern Africa. Bidvest Namibia is a holding that engages in fishing and commercial services in Namibia. Bidvest Corporate offers different corporate services as well as exercises executive training for the Group members.
Get full information disclosure on the company’s present activities, history, business offerings, competitors, news, financials in the report “Bidvest Group Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis recently published by Market Publishers Ltd.
Bidvest Group Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jan, 2013
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