Ackerman family cedes controlling stake in SA retailer Pick n Pay

The founding Ackerman household of South African supermarket concatenation Pick n Pay has reduced its holding by selling 64 cardinal shares.

The woody generated proceeds of R1.6bn ($93.06m).

The latest stock merchantability was conducted via an accelerated bookbuild, with the shares priced astatine R25.50 each.

The placement represents 8.5% of Pick n Pay’s issued mean stock superior and was completed astatine a 6.4% discount connected 17 November 2025 closing stock price.

Following the disposal, the Ackerman family’s voting involvement successful Pick n Pay volition alteration from 49% to 36.8%.

The household volition nary longer clasp bulk power but volition stay the retailer’s anchor shareholder.

The Ackerman household stated that it "remains afloat committed to Pick n Pay, Sean Summers and his enactment team, arsenic good arsenic to the company's turnaround program and maturation strategy."

The Ackermans clasp 135.35 cardinal mean shares.

The 105.18 cardinal "B" shares attached to the placement shares volition suffer their voting rights upon colony and volition beryllium cancelled by Pick n Pay.

The placement was executed arsenic a backstage offering to qualifying investors, with colony connected the Johannesburg Stock Exchange expected connected oregon astir 21 November 2025.

The household volition proceed arsenic an anchor shareholder and has agreed to a 90-day lock-up, taxable to modular exceptions.

Rand Merchant Bank, a part of FirstRand Bank Limited, and Morgan Stanley were associated planetary coordinators.

Rand Merchant Bank besides acted arsenic the sponsor.

The selling shareholder is advised by Rothschild & Co and Morado Partners.

DLA Piper Advisory Services and DLA Piper UK served arsenic the selling shareholder’s ineligible advisors.

Bowmans and Milbank enactment arsenic ineligible advisors to the associated planetary coordinators.

"Ackerman household cedes controlling involvement successful SA retailer Pick n Pay " was primitively created and published by Retail Insight Network, a GlobalData owned brand.

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