Hospitality Business Magazine

Service Foods joins Deloitte 2023 Best Managed Companies list

Service Foods Limited has been named by Deloitte as one of New Zealand’s Best Managed Companies for 2023.

The Best Managed Companies programme celebrates outstanding private businesses by evaluating them against global benchmarks for success. Backed by a 31-year history and a proven framework, Best Managed Companies has recognised excellence and connected over 1,400 of the best private companies in over 45 countries across the globe.

Service Foods Ltd is one of New Zealand’s largest privately family owned and operated food service distribution businesses. It directly imports over 4000 products from over 20 countries and supplements this with 8000+ locally produced products.

It employs over 775 team members, operates over 200 trucks and has 14 strategically placed branches across New Zealand.

“During this time of economic uncertainty, it’s fantastic to see businesses not only focusing on their financials, but also taking a close look at their management practices, culture and overall strategies to ensure they are equipped to weather whatever is thrown their way,” says Jamie Hall, Deloitte Partner and Best Managed Companies lead.

“This year’s winners share similar attributes in their approach to strong governance, a focus on culture, and clear strategies which they have integrated and executed across their businesses.”

The Best Managed Companies programme assesses entrants against a global framework encompassing four key pillars – strategy, culture and commitment, capabilities and innovation, and governance and financials. The companies are evaluated by an external judging panel to determine if they meet the standard of “Best Managed”.

Now into its second year in New Zealand, New Zealand’s Best Managed Companies programme is sponsored by BNZ. The judges for the 2023 Best Managed Companies programme were Catherine Savage (Managing Director, Savage Group and Independent Director), David Handley (GM Corporate Banking and Agribusiness, Bank of New Zealand), and Ross Milne (ex-chair, Deloitte).

Applications will open soon for businesses who wish to participate in the 2024 programme. Those selected to progress will participate in a programme of self-discovery, gleaning insights into their own organisation and a deeper understanding of where their strengths lie, as well as opportunities to develop further, relative to the programme’s four pillars.

“It’s really exciting to see the programme’s growth this year, with four winners being recognised as best managed,” continues Hall. “Our aim is to engage more businesses into the programme each year with the overall focus being to help more privately-owned New Zealand businesses maintain their competitive advantage and position themselves for further success.”

Leighs Construction Limited, Service Foods Limited, Southbase Limited and TDX Limited join a cohort of global Best Managed Companies, with opportunities to connect across borders as part of a global community of leading businesses.

2024 Entry Eligibility Criteria: –

•            Business must be headquartered in New Zealand.

•            Business must be privately owned.

•            Business must have revenue greater than NZD$75 million in the most recent year of business.

•            Business must have been in operation for more than three years.