Supermarket giant embarks on recapitalisation and boxer listing to stabilize finances and increase market share.
Ackerman Family
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- Southern Africa
Pick ‘n Pay, partly owned by South African Ackerman family, grants summers $5.4-million incentive
Summer receives share-based incentives tied to leadership, succession planning, and financial performance as part of Pick ‘n Pay’s turnaround strategy.
- Hot News
Pick ān Pay, backed by South African Ackerman family, unveils $220.3-million rights issue
Pick ‘n Pay launches $220.3-million rights issue to bolster finances amid operational challenges.
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The gain comes as Pick n Pay shares on the Johannesburg Stock Exchange (JSE) rebound after recent setbacks.
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Ackerman Investment Holdings will reduce its voting control in Pick ān Pay Stores to below 50 percent after a planned rights offer.
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The Ackerman family holds a 25.53-percent stake in Pick n Pay, equivalent to 124,677,238 shares.
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Pick ān Pay’s discount chain, Boxer, was a bright spot, delivering robust sales growth of 16.1 percent despite a challenging economic environment.
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The recent increase follows a significant gain of $18.5 million between March 15 and April 9, when their stake in the retailer …
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The downturn in Pick ān Pay’s market value coincides with recent financial challenges and legal disputes. The retailer is embroiled in a …
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Led by South African Ackerman family, Pick ān Pay plans $210-million rights issue, listing of Boxer
Pick ‘n Pay announces plans for a rights issue to raise up to R4 billion ($210 million) and the listing of its …