Bidvest Group

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The Bidvest Group Ltd
Type	Public company
Traded as	JSE: BVT
Industry	international Acquisitions
Founded	1988 (1988)
Headquarters	Johannesburg, South Africa
Area served	Australasia Asia Europe Africa
Key people	Cyril Ramaphosa (Chairman) Brian Joffe (CEO, Founder)
Products	Distribution, foodservice, stationery, printing, banking
Revenue	R109,8 billion (2010)^[1]
Operating income	R5,6 billion (2010)^[1]
Website	www.bidvest.com

Bidvest is a South Africa-based distribution services and trading business and the largest foodservice business outside North America. The group is active in freight management, outsourced services, industrial and commercial products and services, printing, packaging closures, stationery, office products, corporate travel and automotive retailing.

Bidvest is listed on the Johannesburg Stock Exchange, with over 100,000 employees on four continents.

Business model

Autonomous, entrepreneurial, decentralised businesses and management drive Bidvest success. Local teams optimise opportunities in their own markets.^[2]

History

Bidvest was founded by Mervyn Chipkin and Brian Joffe^[3] in 1988 via an R8 million cash shell (a little over US$1 million in 2011 rands). The shell was a fast-track to a 1989 stock exchange listing.^[4]

Structure

Bidvest has a small corporate office to give strategic direction, pursue strategic growth opportunities, support divisions, monitor performance, maintain the entrepreneurial spirit and a red-tape free environment.^[5] Operations span Africa, Europe, Asia and Australasia.

Divisions

Bidvest Freight

The largest private sector freight management business in sub-Saharan Africa has strategically placed assets at all South Africa's major ports and airports. Its businesses are leaders in terminal operations and logistics, international clearing and forwarding and marine services.^[6]

Bidvest Services

South Africa’s leading provider of outsourced corporate and specialised services drives best practice in previously fragmented sectors. Activities include office cleaning and hygiene, laundry services, security, corporate travel, landscaping, office automation, aviation services, foreign exchange and banking.^[7]

Bidvest Foodservice

The only industry player with a broad international footprint operates in southern Africa, the UK, western and central Europe, the Middle East, Australia, New Zealand, Singapore and China. Autonomous teams optimise opportunities across three regions: Europe, Asia Paciific and southern Africa. The largest foodservice operator outside North America.^[8]

Bidvest Industrial and Commercial

South Africa’s leading distributor of electrical products, appliances and services, and manufacturer and distributor of office stationery, office furniture, packaging closures, and catering equipment.^[9]

Bidvest Paperplus

The South African leader in full-colour digital printing, traditional printing, stationery products, packaging, labelling and fulfilment services produces images, graphics and text via any material or digital format.^[10]

Bidvest Automotive

One of South Africa’s largest automotive businesses complements vehicle retailing with financial services, vehicle servicing and parts sales, vehicle rental, vehicle auctions, leisure market retailing and the full range of Yamaha products. The core McCarthy motor retail brand has been in business for more than 100 years.^[11]

Bidvest Namibia

Bidvest Namibia is the holding company for Bidvest’s interests in Namibia, which include fishing and similar commercial businesses to those of Bidvest in South Africa. Bidvest Namibia is listed on the Namibian Stock Exchange.^[12]

Corporate

The Johannesburg-based team supports divisional operations.^[13]

Leadership

Chairman

Bidvest chairman is Cyril Ramaphosa, one of the architects of South Africa's first democratic constitution. He is a former general-secretary of the African National Congress, South Africa's ruling party, but left politics in 1996. He is currently the African National Congress Deputy President (2012–present). He became Bidvest chairman in 2004.

Chief executive

Chief executive is Brian Joffe, founder of Bidvest and until 2004 the Group's executive chairman. Joffe is a chartered accountant and successful entrepreneur. He frequently features in media polls of South Africa's top businessmen and is a former South African representative in the Ernst & Young World Entrepreneur of the Year awards.

Composition

Bidvest strategy is the responsibility of a 25-person board. Most members are non-executive directors.^[14]

Culture

Bidvest is entrepreneurial and goal-directed. Corporate structures are lean. Managers stay close to their businesses, industries and customers. Bidvest is people-driven. Talent retention is a key strategic objective.

Transparency, accountability and open competition characterise the culture. Though businesses are decentralised, information and experience are shared across divisions.

Corporate governance

Bidvest maintains high ethical standards while guarding against fraud and corruption. Good governance is a way of life at Bidvest rather than a set of rules.^[15]

Corporate and international standing

Bidvest’s record for constantly enhancing investor value attracts internationally noting.

R1 000 invested in Bidvest at inception in 1988, with all capital growth and dividends reinvested, would have grown to an estimated R438 438 by June 2010, a compound return of 31% a year.

Awards and rankings

Bidvest is frequently ranked among the world’s top-performing businesses.^[16]

Black Economic Empowerment(BEE)

South African legislation fosters growing participation of the black majority in the national economy. Companies are rated across categories such as black equity participation, black management influence and control, the employment, training and development of black staff, support of black-owned suppliers and black-owned enterprises and social investment.

Bidvest gave an empowerment lead ahead of legislation, establishing its own Bidvest Charter to drive transformation across its South African businesses. The Dinatla empowerment consortium has a 15% stake in Bidvest.^[17]

Dinatla

Dinatla Investment Holdings is a consortium of black-owned businesses and empowerment groups. Consortium members are drawn from communities across South Africa. Core shareholders are WDB Investment Holdings and Bassap Investments. In 2004, they were joined by Shanduka Group.

Bidvest Dinatla Trust

The trust addresses the educational and social needs of Bidvest employees, their dependants and communities.^[18] Bidvest contributes R1 million a year to trust projects.

Sustainable development

Sustainability at Bidvest offers employees a fresh way of thinking that inspires them and enables a new generation of entrepreneurs to create business value that integrates evolving financial, social and environmental needs and expectations.^[17]

Green is Gold defines Bidvest's entrepreneural approach to sustainable development.

Bidvest Academy

The Bidvest Academy, is a training programme for Bidvest's young executives. The accent is on practical problem-solving and implementation.^[19]

References

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