Ackerman family's Pick n Pay cuts first-half supermarket loss 17% to $31 million
Pick n Pay, the South African grocer built by the Ackerman family, cut its first-half supermarket loss by 16.9% as its Boxer discount chain grew.
Boxer
Pick n Pay CEO Sean Summers leans on Boxer as core supermarkets stay flat
Pick n Pay's group turnover grew 2.7%, carried by Boxer, as CEO Sean Summers' turnaround left the core supermarkets flat and a labor dispute unresolved.
Pick n Pay, controlled by Soutgh Africa's billionaire Ackerman family, sells down its Boxer crown jewel to fund a slow turnaround
Pick n Pay has sold down more of Boxer for R4.7 billion, funding a slow turnaround that cost the Ackerman family control of the retailer.
Pick n Pay secures $471 million in Boxer IPO to drive growth strategy
Boxer's oversubscribed listing marks one of Africa’s largest IPOs in 2024.
Pick n Pay to list Boxer unit in JSE IPO, targeting $451 million
The IPO could raise up to R8 billion ($451.2 million), potentially the biggest public offering in Africa in 2024.