The Bidvest Group Limited - Acquisition By Bidvest Of Deli Xl

The Bidvest Group Limited - Acquisition By Bidvest Of Deli Xl                   
THE BIDVEST GROUP LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1946/021180/06)                                            
Share code: BVT ISIN: ZAE000050449                                              
Bidvest expands its foodservice interests into continental Europe               
BIDVEST, the international services, trading and distribution group, today (15  
July 2005) announced a major expansion of its international foodservice         
interests.                                                                      
The JSE-listed company has concluded an agreement to acquire Deli XL, the       
leading foodservice player in the Benelux region, from the Netherlands-based    
Ahold Group for a consideration of approximately 56.7 million euros, valuing    
Deli XL at an enterprise value of approximately 140 million euros. Bidvest has  
undertaken to ensure that at completion Deli XL will repay its net outstanding  
intercompany debt to Ahold.                                                     
Bidvest"s foodservice interests comprise 3663 First for Foodservice, the market 
leader in the United Kingdom, the leading foodservice businesses in both        
Australia (Bidvest First for Foodservice) and New Zealand (Crean First for      
Foodservice) and Caterplus in Southern Africa.                                  
Bidvest Chief Executive Brian Joffe commented: "Europe is a strategic market    
with growth opportunities in the foodservice industry. The acquisition of Deli  
XL will complement our existing, highly successful foodservice business in the  
United Kingdom and marks another step in the internationalisation of our        
foodservice interests. Consolidation in the foodservice industry in the Benelux 
region has started and Bidvest intends to partake in this process.              
Deli XL provides a unique opportunity to acquire a market-leading European      
foodservice business with sufficient scale to realise customer and purchasing   
synergies.                                                                      
Currently, Deli XL achieves poor returns. Once integrated into the Bidvest      
foodservices division and with our management focus, we believe it has the      
potential to contribute significantly to Group performance over time.           
Deli XL holds an estimated 13% share of the Dutch foodservice market and an     
estimated 4% share of the market in neighbouring Belgium. It is also a leading  
provider of food products to the institutional market in Luxembourg. In 2004,   
Deli XL generated sales of 819 million euros.                                   
Deli XL"s customer-base of approximately 30 000 clients across the              
institutional, catering and regional hospitality market segments have access to 
a comprehensive range of 60 000  products served by its 2100 employees.         
The transaction, to be funded from Bidvest"s banking facilities, is expected to 
become effective in the third quarter of the year.                              
The agreement is subject to clearance from the European Union competition       
authorities."                                                                   
ISSUED ON BEHALF OF:               THE BIDVEST GROUP LIMITED                    
BY:                           CLEAR DISTINCTION COMMUNICATIONS                  
BIDVEST CONTACTS:                  Brian Joffe (Chief Executive)                
                              Tel:  (011)  772-8704                             
                              David Cleasby (Investor Relations)                
Tel : (011) 772-8706                              

                              Mobile:  083 228 1810                             
CONSULTANCY CONTACT:               Carol Dundas                                 
                              Tel:  (011) 444-0650                              
Mobile: 083 447-6648                              

Date: 15/07/2005 12:12:04 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department