Table of Contents
Key Points
- Ackerman family gains $15 million as Pick n Pay shares rebound 9% on the JSE over the past month.
- Investor confidence grows amid Pick n Pay’s cost-cutting and turnaround strategy, boosting its market cap above $1.1 billion.
- Despite a 13.62% year-to-date decline, the Ackermans’ holdings recovered to $185 million, erasing earlier paper losses.
South Africa’s Ackerman family is seeing a welcome recovery in their fortune after a recent surge in Pick n Pay’s share price on the Johannesburg Stock Exchange (JSE). In just the past month, the value of their stake in the supermarket chain has jumped by more than $15 million, pushing the market value of their holdings back above $185 million.
Their 16.71-percent stake in Pick n Pay, amounting to 124.68 million shares, has gained R273.04 million ($14.28 million) in value over the last 31 days. This rebound comes amid renewed investor interest, driven by confidence in the company’s efforts to turn things around and a more optimistic outlook for South Africa’s retail sector.
Shares climb nearly 9%, market value tops $1.1 billion
Pick n Pay, founded in 1967, remains one of Africa’s biggest names in retail, with over 2,000 stores spread across eight countries. It’s still South Africa’s second-largest grocery chain, behind Shoprite—which counts billionaire Christo Wiese among its key shareholders.
The company’s shares have risen nearly 9 percent in the past month, moving from R24.33 ($1.36) on June 13 to R26.52 ($1.48) as of July 13. That uptick has pushed Pick n Pay’s market capitalization to just over $1.1 billion and reflects a broader shift in sentiment across the JSE’s consumer goods sector.
For the Ackerman family, this rally has translated into a tangible boost. The value of their holdings has grown from R3.03 billion ($169.78 million) to R3.31 billion ($185.06 million), a gain of R273.04 million ($15.28 million), reaffirming their status as one of the wealthiest investor families in the country.
Still a long way back after a tough year
While the recent gains are encouraging, the bigger picture remains mixed. The company’s share price is still down 13.62 percent for the year. That means someone who invested $100,000 in Pick n Pay stock at the start of 2025 would now be sitting on just $86,380.
Even so, the retailer is showing signs of progress. Its efforts to cut costs and sharpen its focus on core grocery operations are starting to resonate with investors. And for the Ackermans, who have been part of Pick n Pay’s story for decades, there’s reason to stay hopeful.
Their deep connection to South Africa’s retail landscape, combined with their stake in the company, means they’re well-positioned to benefit from any continued improvement. If Pick n Pay can keep building on these gains, the family’s wealth is likely to grow right alongside it.