Ackerman
1Min
South Africa
Dec 4, 2025
The Ackermans have reduced their Pick n Pay shareholding from 25.4% to 16.8%, stepping back from majority control. Meanwhile, Allan Gray quietly raised its stake to 10.43%, signaling a shift in influence as the supermarket chain seeks to stabilise operations and strengthen its turnaround strategy.
The Ackerman family has reduced its stake in Pick n Pay, stepping back from decades of majority control. In a recent accelerated bookbuild, the family sold shares, bringing its holding down from 25.4% to 16.8%.
The move comes after a R1.1‑billion capital injection earlier this year aimed at stabilising the chain amid operational pressures and strong competition from rivals such as Shoprite and Checkers.
As the Ackermans scale down, investment firm Allan Gray has quietly increased its shareholding to 10.43%, positioning itself as a major shareholder and influencing the company’s strategic direction. The shift reflects Pick n Pay’s evolution from a family‑led enterprise into a publicly traded company governed more by market forces than legacy control.
The transition coincides with a series of structural changes, including the separate JSE listing of Pick n Pay’s discount arm, Boxer Retail. CEO Sean Summers, who returned from retirement to lead the turnaround, holds four million performance‑based shares, now valued at about R56 million.
Observers say the changing shareholder landscape could impact key decisions on operations, pricing and expansion, with a growing focus on efficiency, profitability, and shareholder returns. Despite reducing their stake, the Ackermans remain anchor shareholders and maintain their commitment to Pick n Pay’s long‑term recovery.
