JP Morgan acquires additional shares in Bernard Berson-led Bidcorp

Key Points

• JP Morgan Chase raises stake in Bidcorp to 8.23%, investing $290.43 million for 13.3 million shares, signaling confidence in the South African food service group.
• The acquisition strengthens JP Morgan’s confidence in Bidcorp’s global strategy and South Africa’s growing food service sector, under Bernard Berson’s leadership.
• JP Morgan’s investment makes it Bidcorp’s second-largest shareholder, highlighting the bank’s expanding presence in South Africa’s dynamic corporate landscape.

JP Morgan Chase & Co. (JP Morgan), the world’s largest bank by market capitalization, has purchased an additional $290.4 million worth of shares in Bid Corporation Limited (Bidcorp), a South African food service group led by Johannesburg-based executive, Bernard Larry Berson.

The strategic purchase by the financial powerhouse increases its stake by an additional 13,311,500 shares, valued at R5.69 billion ($290.43 million), raising its stake by 3.95 percentage points to 8.23 percent. This move underscores JP Morgan’s confidence in Bidcorp’s market leadership and growth potential in the global food service industry.

The acquisition, disclosed in a regulatory filing on April 7, 2025, signals JP Morgan’s focus on South Africa’s thriving food service sector. Under Berson’s leadership, Bidcorp has built a solid global presence, using its South African roots as a springboard to expand internationally.

JP Morgan boosts Bidcorp stake to 8.23 percent

JP Morgan’s recent investment in Bidcorp raised its holdings from 4.28 percent—valued at R6.16 billion ($314.69 million)—to R11.85 billion ($605.15 million). The $290.43 million acquisition, which added over 13.3 million shares, highlights the bank’s growing confidence in Bidcorp’s global strategy.

This increased stake signals JP Morgan’s strengthened commitment to South Africa’s corporate landscape and its belief in sectors with strong growth potential. The bank’s support of Bidcorp reflects its trust in the company’s ability to sustain growth and innovate within the global food service market.

JP Morgan takes bigger stake in Bidcorp

JP Morgan now holds a total of 31,027,100 shares in Bidcorp, valued at R11.85 billion ($605.15 million). This move strengthens its earlier investments in South Africa’s mining and healthcare retail sectors. With this acquisition, JP Morgan becomes Bidcorp’s second-largest shareholder, behind the Public Investment Corporation, which holds 16.5 percent of the international foodservice group.

This investment underscores JP Morgan’s trust in Bidcorp, a company listed on the JSE and operating across developed and emerging markets on five continents. It also reflects the bank’s expanding presence in South Africa, solidifying its role as a key player in the country’s dynamic corporate environment.