Global foodservice giant, Bidvest Australia, which was rebranded as Bidfood Australia earlier this year, has acquired Festival City Food & Liquor for an undisclosed sum.
Festival City is a large specialised distributor of local and imported European food and liquor products. It has operations in three states and distributes to hospitality & retail outlets across Australia.
“There was considerable interest in the Festival City business from private equity and trade buyers and the board determined that Bidfood offered a compelling proposition for the continuation of a legacy built by the vendors of over 35 years,” advisor to the Festival City board Emil Parthenides said.
The name change to Bidfood follows the separation of the global Bidvest Foodservice businesses from the Bidvest Group, which listed independently on the Johannesburg Stock Exchange last year.
