Jp Morgan Takes New Shares Worth 288 Million In Bernard Berson-led Bidcorp
JP Morgan raised its stake in Bidcorp to 10.86, acquiring shares worth 288.7 million, signaling confidence in the food service group's growth.
The latest purchase brings JP Morgan's total Bidcorp holding to 893.85 million, following an earlier stake worth 605.15 million.
This move complements JP Morgans broader South African strategy, recently increasing its stake in Bidvest, reinforcing confidence in local companies with strong leadership.
JP Morgan Chase Co. JP Morgan has boosted its investment in South Africas Bid Corporation Limited Bidcorp, acquiring additional shares worth 288.7 million. This reflects the banks growing confidence in the Johannesburg-based food service group, which is led by Bernard Berson.
The transaction, disclosed on Apr. 16 , raised JP Morgans stake in Bidcorp from 8.23 percent to 10.86 percent, a 2.63 percent increase. Its a clear endorsement of Bidcorps international foodservice operations, which offer value-added processing, tailored solutions, and a comprehensive range of catering services.
Building on previous investments in South AfricaThis latest move is part of JP Morgans broader strategy in South Africa, where the bank has recently made several significant investments. Its earlier 8.23 percent stake , revealed on Apr. 7, 2025, was valued at R11.85 billion 605.15 million. With the additional purchase, JP Morgans total holding in Bidcorp is now valued at R16.83 billion 893.85 million.
Under Bernard Berson, Bidcorp has expanded beyond its South African roots to establish a solid global presence. This increased stake signals JP Morgans continued support for South Africas corporate sector and its belief in industries with strong growth potential. The banks investment in Bidcorp underscores its confidence in the companys ability to maintain growth and drive innovation in the global food service market.
Strengthening its position in South AfricaJP Morgans interest in South Africa extends beyond Bidcorp. Just two days earlier, the bank increased its stake in Bidvest , the Johannesburg-based industrial and services company led by Mpumi Madisa, from 5.03 percent to 6.68 percent, valuing the investment at 272 million.