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Our strategy

35 years. One strategy. Still the most relevant playbook in foodservice.

The strategic question

Move cartons,
or add value?

Every foodservice distributor faces this question. Most compete on price and volume – move more, charge less and grow by scale alone. Bidcorp made a different choice 35 years ago and has held to it ever since.

The answer is clear: add value. Food expertise. Customer intimacy. Own Brand quality. Technology that genuinely helps operators run better kitchens. This is the Bidcorp model – and it compounds.

"Our businesses don't compete on who can move the most cartons at the lowest cost. They compete on knowledge, relationships and the genuine value they add to the operator's kitchen – every single day."

— Group chief executive, Bidcorp Group

Bidcorp at a glance Performance that proves the model

4,5% Organic revenue growth in F2025
10% CAGR EBITDA compound growth since listing
53,4% Return on funds employed
50% Of all orders placed online
~90% Of food sourced locally
11,3m Digital orders placed in F2025

The foodservice continuum

Where every business sits – and where it's heading

Each Bidcorp operating company is mapped by its actual trading margin – the most direct measure of value-add progression. The X axis runs from 0% to 10%. Filter by division to compare how each business has moved between F2024 and F2025.

F2025 F2024
>3%
3–5%
5–8%
<8%
Primary nature of the operating activities
Logistics-type business
Wholesale trading of a broad range of third-party products
Greater proportion of Own Brand, supported by light manufacture and value-add processing
Range of Own Brand, imports and exclusive ranges; focus on the right customer
Where Bidcorp businesses operate
One or two Bidcorp businesses still operate with some of this focus
Most Bidcorp operations are at various stages within this range, with all focused on securing the right customer at the right price
Bidcorp’s mature high-margin businesses operate with this growth imperative
Europe Australasia United Kingdom Emerging Markets Each dot represents a Bidcorp business

Each dotted line threads through that year's businesses, plotted by their actual reported trading margin (trading profit as a percentage of net revenue) – F2025 in the active division colour, F2024 in grey. Dots cluster where businesses share similar margins. Hover or tap any dot for detail.

How we win

Three pillars of the Bidcorp model

Competitive advantage that reinforces itself – and compounds over decades.

Local management teams have full accountability – from product ranging and pricing to customer relationships and capital allocation. This preserves the entrepreneurial energy that drives outperformance in every market.

  • Local ownership of customer relationships and market knowledge
  • Fast decision making without centralised bureaucracy
  • Group infrastructure in technology, procurement and compliance

We serve more than 474 000 customers in the foodservice sector – from restaurants and caterers to hotels and institutions. Our businesses build relationships over years and decades, not transactions.

  • Dedicated account management for key customers
  • Culinary support services, including training and menu development
  • Digital platforms for convenient, personalised ordering

Food is the core of everything we do. Our teams combine deep product knowledge with a broad, curated range – including our growing Own Brand portfolio – to deliver real value to foodservice operators.

  • Broad product range spanning ambient, chilled, frozen and non-food
  • Own Brand portfolio across every division for margin and loyalty
  • Quality-assured supply chain from producer to plate

Strategic differentiator

Own Brand – the margin engine

Bidcorp's Own Brand portfolio is one of the group's most significant strategic initiatives. Across every division, Own Brand products deliver higher margins, stronger customer loyalty and a competitive differentiation that cannot be sourced elsewhere. This is not a low-cost substitute – it is a chef-grade, operator-trusted product range, curated for quality and designed for the professional kitchen.

Own Brand strategy
~20% Higher gross margin versus branded equivalents
Growing Revenue share in every division, every year
Four divisions Distinct Own Brand ranges, locally curated

Strategy in numbers

Performance that speaks to the investment case

Bidcorp's decentralised, value-add strategy generates resilient, compounding returns. The numbers reflect 35 years of consistent execution – not a single cycle, not a single geography.

Revenue growth

~8% CAGR over 10 years

Consistent top-line growth driven by organic volume expansion, bolt-on acquisitions and disciplined own-brand margin management across four divisions and 31 countries.

  • R235,6bn F2025 revenue versus R108,9bn at listing
  • Organic growth supplemented by targeted acquisitions
  • Multi-currency resilience from geographic diversification

Earnings per share

~10% HEPS CAGR since listing

Headline earnings per share compounding at approximately 10% annually since the 2016 JSE listing – driven by operating leverage, mix improvement and disciplined capital allocation.

  • Operating leverage from scale and fixed-cost discipline
  • Mix improvement from Own Brand and value-add growth
  • Capital efficiency through decentralised accountability

Shareholder returns

R21,7bn in dividends since 2016

Bidcorp has returned R21,7bn to shareholders since its JSE listing, with an unbroken track record of annual dividend growth reflecting sustained earnings quality and strong cash generation.

  • Progressive dividend policy maintained through cycles
  • Strong free cash generation from asset-light operations
  • Annual increases reflecting sustained earnings growth
FY2025 Annual Integrated Report cover

Latest Report

F2025 Annual integrated report

A comprehensive account of our strategy performance and value creation for the year ended June 30  2025