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Bidvest buys Australian cleaning company for R1.8 billion

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Listed services, trading, and distribution company, Bidvest, says it has acquired Australian cleaning specialist, BIC, for AUD160 million, approximately R1.8 billion.

The purchase is effective 7 July 2022 and will be settled from the group’s international bond proceeds raised in October 2021.

The company employs almost 2,500 people across 3,250 sites and its client base primarily comprise premium A-grade offices in New South Wales. Over the years, BIC is supported by a web-based reporting system that can be integrated into client systems and an interactive customer experience platform. “We are excited to have found a business and management team that I believe can contribute to advancing Bidvest’s international growth strategy and add value to a stakeholder base that now includes Australia”, said Mpumi Madisa, Bidvest chief executive.

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