Bidcorp acquires 90% stake in Guzman Gastronomia

guzman gastronomia

Bid Corporation, a South African foods company has 90% stake in acquired Guzman Gastronomia and Cuttings.

Guzman Gastronomia and Cuttings is a Spanish Spanish foodservice group with a projected total revenue of 100 million euros ($106.67 million) for 2017.

Bidcorp has not disclosed the value it paid for the acquisition. The company disclosed that Guzman Gastronomia and Cuttings supplying hotels, restaurants, industrial caterers and other institutions throughout Spain.

Bidcorp, spun out of Bidvest last year in a $5 billion listing on the Johannesburg Securities Exchange, said in February it could tap $1.2 billion for acquisitions to extend its push outside its home market.

Bidcorp said it acquired its stake from Miura Private Equity and Guzman’s management, who retain a 10 percent interest.

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