Jp Morgan Strengthens Position In South Africa With 150.8 Million Bidcorp Stake
- JP Morgan increases its Bidcorp stake by 1.92 with a 150.8 million investment, reaching 6.91.
- Bidcorp thrives with innovative food service solutions, attracting heightened global investor interest.
- The acquisition reinforces JP Morgan's deepened synergy and confidence with South Africas corporate landscape.
JP Morgan Chase Co. JP Morgan, the worlds largest bank by market capitalization, has expanded its investment in Bid Corporation Limited Bidcorp, a South African food service group led by Johannesburg-based executive, Bernard Larry Berson.
The financial powerhouse acquired an additional 6,468,521 shares, valued at R2.86 billion 150.8 million, raising its stake by 1.92 percentage points to 6.91 percent. This move underscores JP Morgans confidence in Bidcorps market leadership and growth potential in the global food service industry.
The acquisition, disclosed in a regulatory filing on January 9, 2025 , highlights the banks strategic focus on South Africas robust food service sector. Under the leadership of CEO Bernard Larry Berson, Bidcorp has solidified its presence as a global foodservice leader, leveraging its South African origins to build a significant international footprint.
JP Morgan boosts Bidcorp stake to 6.91 percentJP Morgans latest investment in Bidcorp increased its holdings from 4.99 percentequivalent to 16,811,417 shares valued at R7 billion 370.7 millionto 6.91 percent, representing 23,279,938 shares now worth R10.28 billion 542.28 million.
The 150.8 million acquisition, which added 6,468,521 shares, underscores JP Morgans growing confidence in Bidcorps global strategy.