Industrial services group Bidvest said in a statement on Friday it had concluded an agreement to buy Deli XL, a leading Dutch-based foodservices company.

Bidvest was acquiring the company from the Ahold Group for around €56.7-million, valuing Deli XL at an enterprise value of around €140-million.

The company noted that it had undertaken to ensure Deli XL would repay its net outstanding company debt to Ahold on completion of the deal.

Bidvest CE Brian Joffe commented on the deal: "Europe is a strategic market with growth opportunities in the foodservice industry.

"The acquisition of Deli XL will compliment our existing, highly successful foodservice business in the United Kingdom and marks another step in the internationalisation of our foodservice interests."

Bidvest shares gained 1.59 percent to end at 79.95 rand on the JSE on Friday.

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