JP Morgan takes new shares worth $288 million in Bernard Berson-led Bidcorp

Key Points

• 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 Morgan’s 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 Africa’s Bid Corporation Limited (Bidcorp), acquiring additional shares worth $288.7 million. This reflects the bank’s growing confidence in the Johannesburg-based food service group, which is led by Bernard Berson.

The transaction, disclosed on Apr. 16, raised JP Morgan’s stake in Bidcorp from 8.23 percent to 10.86 percent, a 2.63 percent increase. It’s a clear endorsement of Bidcorp’s international foodservice operations, which offer value-added processing, tailored solutions, and a comprehensive range of catering services.

Building on previous investments in South Africa

This latest move is part of JP Morgan’s 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 Morgan’s 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 Morgan’s continued support for South Africa’s corporate sector and its belief in industries with strong growth potential. The bank’s investment in Bidcorp underscores its confidence in the company’s ability to maintain growth and drive innovation in the global food service market.

Strengthening its position in South Africa

JP Morgan’s 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.

Together, these investments highlight a clear trend: JP Morgan sees long-term value in South African companies with strong fundamentals and capable leadership. While many global investors are cautious, the bank’s actions signal its belief in South Africa’s business potential and resilience.