No Match Found
PwC advised Bidcorp group in the acquisition of a majority stake in the Estonian food sector wholesale company Fruit Xpress OÜ.
Bidcorp was looking for an opportunity to strengthen its presence in the dynamically growing Estonian food supply market. The founders and management of Fruit Xpress will continue to work for the company.
PwC conducted financial and tax due diligence on Fruit Xpress OÜ. PwC Estonian Deals team experts Teet Tender, Raul Ruubel, Lisette Starostin, Klaudia Sarah Kaar, and tax advisors Martin Tois, Tanja Kriisa and Linell Raud contributed to the transaction.
Fruit Xpress OÜ has been operating since 2008, supplying many companies in the Estonian food sector with fresh food - restaurants, hotels, large kitchens and catering service providers. Fruit Xpress serves customers all over Estonia and operates warehouses and service centers in Tallinn and Tartu. The company employs nearly 120 employees and its sales turnover in 2022 is expected to be around 31 million euros.
Bidcorp has been operating on the Baltic market under the Bidfood Baltics brand since 2011 and has subsidiaries in Lithuania and Latvia. Bidfood Baltics supplies food companies and retail chains in all three Baltic countries and delivers frozen fish products under the Nowaco brand. Bidcorp is listed on the Johannesburg Stock Exchange in South Africa. The group operates on five continents and in more than 30 countries and employs approximately 25,000 people. The company serves more than 370,000 customers from 260 warehouses worldwide. In the financial year ending June 30, 2022, Bidcorp's companies had a total sales turnover of approximately 9 billion euros.
Tallinn, PwC Estonia
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