Ackerman Family Stake Tops 180 Million As Pick N Pay Shares Rebound

Ackerman familys stake in Pick n Pay surged by 19.35 million in two weeks, now worth over 180 million.

Pick n Pay shares jumped 12 on the JSE, lifting market cap past 1 billion amid restructuring and expansion.

The retailers rebound follows strategic store closures and expansion, including a new outlet at Westown Square.

South Africas wealthy Ackerman family, founders of Pick n Pay, has seen significant paper gains from shares in the countrys second-largest grocer. Their stake in the retailer has grown by over 19 million, pushing its value above 180 million, driven by a sharp rise in Pick n Pays share price.

The family owns 16.71 percent of Pick n Pay, which amounts to 124.68 million shares. In less than two weeks, the value of that stake has risen by R364.06 million 19.35 million, bringing their total holding back above 180 million and solidifying their position among South Africas wealthiest families.

Pick n Pay , founded in 1967, has firmly established itself as one of Africa's retail giants, with over 2,000 stores spread across eight countries. As South Africa's second-largest grocer, it trails only Shoprite, which is partly owned by billionaire Christo Wiese.

The company recently took a bold step by opening a new supermarket at Westown Square , just two months after closing 32 stores as part of a broader restructuring effort. This move aims to improve customer convenience and offer fresher products.

In the last two weeks, Pick n Pays stock has surged by 12 percent on the Johannesburg Stock Exchange JSE , climbing from R24.33 1.29 on April 4 to R27.25 1.45. This rally has boosted the companys market cap above the 1 billion mark, benefiting shareholders, particularly the Ackerman family.