Bidvest Group Ltd., South Africa’s second-largest company by revenue, plans to spin off its “undervalued” food distribution business and list it separately as BidCorp on the Johannesburg Stock Exchange as soon as May 30.

The goal of breaking up the $8.2 billion company is to boost its share price, Reuters reported. The listing will also give BidCorp a fundraising platform to go after acquisitions, the company said in a statement.

Separating Bidvest Foodservice from the industrial unit will provide greater focus “and enable management to identify opportunities both locally and abroad,” the Johannesburg-based company said Thursday, Bloomberg reported.

Bidvest seeks to expand outside its home market. Falling commodity prices and the worst drought in more than a century are expected to result in 2016 seeing South Africa’s slowest economic growth since 2009.

Under the breakup plan, shareholders will receive one share in the food distribution business, BidCorp, for each Bidvest share they own.

With diverse interests from shipping and household mops to car dealerships, catering and pharmaceuticals, Bidvest has acknowledged for a while that it needs to separate its food business.  The unit’s value isn’t reflected in its share price, the company said.

Bidvest founder and CEO Brian Joffe has a reputation as one of South Africa’s savviest dealmakers, Reuters reported. He abandoned plans in 2014 to list the food division in London, and rejected buyout bids for it three years earlier.

“The evolution of Bidvest into two distinct businesses comprising Bidvest Industrial, a major diversified industrial group operating in Southern Africa … and a global foodservice business operating in multiple geographies, has been a natural progression over many years,” Bidvest said, according to BusinessDayLive.

A “clear separation of interests” will provide better management focus and “increase the scope for entrepreneurial flair” domestically and abroad, the company said. “Both businesses have divergent strategic focuses and require different management skills.”

BidCorp contributes over half of Bidvest’s sales, according to Reuters.

The food distribution business supplies food to hotels, restaurants and pubs in Asia, Europe, and South Africa, and competes with companies such as Sysco Corp of the U.S.

After the separation of the food unit, Bidvest will become a southern African diversified industrial company with annual sales of about $6.175 billion US and almost 120,000 employees, Reuters reported.