The foodservice specialist confirmed that PCL was now fully integrated into its business when it announced its half-year results to December 31, 2014 last month. Chief executive Brian Joffe reported that the purchase of PCL 24/7 and a 60% stake in Gruppo Dac SpA – an Italian foodservice company, “expanded the product offering and provided geographical diversity for the UK and European operations respectively”.
Joffe added that Bidvest now had an option to increase the Group’s interest in both businesses, “which together with other targeted acquisitions, form part of our strategic expansion plans in the international foodservice industry”.
The Group said the UK division “exceeded” expectations based on a strong focus on customer profitability and “rigorous” cost controls. Sales rose 23.6% to 23.9bn rand (£1.3bn) over the six month period, while profits rose to 521.5m rand (£28.9m).