The Ackerman family, major leaders in South Africa’s commercial landscape, have seen a large increase in the market value of their share in Pick ‘n Pay, a leading retail firm, as the company’s stock price has risen on the Johannesburg Stock Exchange.
The Ackermans’ shareholding in Pick ‘n Pay has increased by R342.86 million ($18.54 million) in the last 25 days. This increase follows a period of losses, when the value of their shareholding fell by R1.21 billion ($64 million) between February 19 and March 19.
Pick ‘n Pay, founded in 1967, has a strong presence in Africa’s retail sector, with over 2,000 outlets in eight African countries. It is the nation’s second-largest retailer, trailing only Shoprite Holdings, which is owned in part by South African billionaire Christo Wiese.
Pick ‘n Pay shares have increased by 16.42% over the previous 25 days, from R16.75 ($0.90313) on March 15 to R19.50 ($1.0784) at the time of writing. This spike has pushed the company’s market valuation to $530 million, resulting in significant returns for shareholders, particularly the Ackerman family.
With the recent increase in the retail group’s share price, the market value of the family’s holding has climbed by R342.86 million ($18.54 million) in the last 25 days, from R2.09 billion ($112.96 million) on March 15 to R2.43 billion ($131.50 million) at the time of writing.
This rise cements the Ackerman family’s status as one of the JSE’s wealthiest investors and highlights their importance in South Africa’s commercial environment.
