Puratos to buy half of Bidcorp Bakery Solutions

Belgian confectionery group Puratos is acquiring half of Bidcorp Bakery Solutions (BBS), a division of the food group unbundled from Bidvest in June.

In the statement released on Wednesday, Bidcorp did not place a value on the deal and said it was subject to approval from competition authorities and the South African Reserve Bank.

"This acquisition in South Africa will help us further develop the booming African market," Puratos CEO Daniel Malcorps said in the statement.

Puratos has an annual turnover of €1.6bn and employs 7,225 people. It has 55 production units in 44 countries and subsidiaries in 68 countries. It sells its products in 100 countries.
"Though BBS has been a strong competitor in its market, despite the presence of multinationals, the joint venture will be in a much stronger position on the back of Puratos’s technical strength and specialised ingredients," Bidcorp Food CEO Klaas Havenga said.
BBS manufactures and supplies bakery ingredients to industrial bakers, the craft market and large retailers under the Chipkins and NCP brands.

"Customers will benefit greatly from the many new product offerings and the enhancements of products due to access to Puratos’s know-how. The extent of investment that Puratos makes into research and development is very impressive and will bring many new opportunities to the market," BBS MD Nigel Phillips said in the statement.
Puratos invests 2.2% of its turnover in research and development, employing 840 researchers and technical advisers. Products are demonstrated and developed at 77 innovation centres in the world.

by Robert Laing/BDlive