Pick n Pay: Will the Ackermans buy in?
The company is trading at a loss and plans to list Boxer, but what the family will do in the rights issue is not clear
29 February 2024 - 05:00
The founding Ackerman family may lose control of Pick n Pay if they do not reinvest sufficiently in the business, given sweeping changes announced this week that seem to signal a cash crunch.
Pick n Pay last week proposed a capital raise of up to R4bn for midyear and mooted a separate listing of specialist retail subsidiary Boxer in the second half of this year. The company wants to retain control of Boxer, which targets middle- to lower-income markets...
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