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It has been five months since Bidvest CEO Mpumi Madisa took over the helm of the industrial giant and although she s not looking to change a lot in the company, she says its acquisition pace will be quicker.
Madisa took over from former CEO Lindsay Ralphs in October 2020 after his retirement and, at 41, her age makes her stand out among her older JSE company peers.
But she is no stranger to the company, having been there for seven years, with Ralphs and founder Brian Joffe showing her the ropes.
Since its establishment in food services 33 years ago, Bidvest is known for the diverse portfolio that that now spans the services, freight, branded products, commercial products, financial services and automotive industries. The legacy of Joffe, who left in 2017, looms large and although Madisa will stick to the group s consistent organic and acquisitive growth strategy, she will put her own stamp on it.
Bidvest spin-off Bidcorp slashes earnings expectations
Trading statement
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, Bidcorp is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the half year ended December 31st 2020, will differ by at least 20% from those of the previous corresponding half year ended December 31st 2019.
Shareholders are referred to the Q1 trading update provided to the market on November 17th 2020 and are further advised that:
Bidcorp has delivered a commendable result for the half year against a backdrop of the catastrophic economic and social consequences of the ongoing Covid-19 pandemic (Covid) on the hospitality, tourism, and leisure industries globally. Good asset management, excellent free cash flows, and healthy profitability underpinned the pandemic affected results. The protection of our employees in respect of their health, wel
January 12, 2021
CEO of PURA Soda, Greig Jansen.
The local food and beverages sector has taken an interesting twist in the past few years with new innovative brands -often capitalising on consumer’s increased fixation with health and customised quality – coming more strongly to the fore.
Some innovative brands have already captured the attention of mainstream investors.
Stellenbosch-based Chill Beverages – the makers of Fitch & Leedes mixers and Score energy drinks – was bought by Brian Joffe’s Long4Life investment company.
BOS Brands, the makers of rooibos tea-based beverages, attracted investment giant Remgro’s venture capital fund InVenfin as a major investor. By CBN’s count Remgro has invested close to R350 million in BOS over the last few years.