Ackerman family sees $13.95 million decline in Pick n Pay stake

Key Points

• Ackerman family’s Pick n Pay stake lost nearly $14 million in 11 days amid operational struggles and intense retail competition.
• Pick n Pay shares have slumped 7.16% since May 2, dragging market value below $1 billion, a key level for investors.
• Year-to-date, the stock is down 13.42%, underperforming both Shoprite and the broader JSE All Share Index.

The Ackerman family, founders of South Africa’s Pick n Pay Stores Ltd., have watched nearly $14 million wiped off the value of their stake in the retailer over the past two weeks, as the company continues to grapple with mounting operational challenges and fierce competition.

Their 16.71-percent stake, amounting to 124.68 million shares, dropped in value from R3.57 billion ($194.89 million) on May 2 to R3.13 billion ($180.94 million) by May 13. That’s a loss of R255.59 million ($13.95 million) across just 11 days, reversing nearly all the gains made in April.

In that earlier stretch, the family’s stake had climbed by $19.35 million between April 4 and April 18, rising from $161.19 million to $180.54 million. The recent dip highlights just how unstable the company’s share price has become, a reflection of the growing pressure facing one of South Africa’s most recognizable retail names.

Market turbulence hits Pick n Pay stakeholders

Pick ‘n Pay, founded in 1967, remains a key player in Africa’s retail sector with more than 2,000 stores across eight African countries. Despite its prominence as South Africa’s second-largest grocer after Shoprite, the company has been navigating through turbulent market conditions and strategic restructuring.

Shares of Pick n Pay have dropped 7.16 percent in the last 11 days, sliding from R28.63 ($1.56) on May 2 to R26.58 ($1.45) on May 13. This recent slump has dragged the company’s market capitalization below the $1-billion mark, a psychologically significant level for institutional investors and portfolio managers focused on South African equities.

Pick n Pay shares down 13.4%

Pick n Pay’s stock has fallen 13.42 percent so far in 2025, lagging behind both the broader JSE All Share Index and its main competitor, Shoprite Holdings, which has managed to hold onto investor confidence despite a tough economic climate. A $100,000 investment in Pick n Pay at the start of the year would now be worth just $86,580—a capital loss of $13,420.