Pick 'n Pay Stores Limited
 |
|
| Public | |
| Traded as | JSE: PIK |
| Industry | Retail |
| Founded | 1967 |
| Headquarters | Kenilworth, Cape Town, South Africa |
|
Key people
|
Gareth Ackerman (Executive chairman) Richard Brasher (CEO) |
| Revenue |
 $4.07 Billion(FY 2015)
|
| $152.11 million | |
| Total assets | $11.19 billion |
| Total equity | $2.14 billion |
|
Number of employees
|
54,400 (over 80,000 including franchise stores) |
| Website | http://www.picknpay.co.za |
Pick n Pay is the second largest supermarket chain store in South Africa, established in 1967. It can also be found in other regions of southern Africa, such as Botswana, Zambia, Zimbabwe, Lesotho, Namibia, Swaziland, and had plans to open in Malawi but has yet to do so. The founder of the chain was Jack Goldin, a native of Obeliai, Lithuania who moved to South Africa when the Nazis invaded his town. Raymond Ackerman purchased three Pick n Pay supermarkets in Cape Town from Goldin, and served as executive chairman until his retirement in 2010. His eldest son, Gareth, is the current chairman.
Other supermarket store chains in South Africa that are part of the Pick n Pay group are Score Supermarkets and Boxer. However, Pick n Pay is currently converting Score supermarkets into Pick n Pay franchises. This initiative forms the core of Pick n Pay's economic empowerment scheme.
Due to a slump in profits in July 2011 the company told labour unions that it would lay off 3,137 of its 36,673 staff.
The Pick n Pay brand, which had previously remained largely unchanged since the 1970s, was redesigned in 2007. On 12 November 2007, the company announced a brand transformation in the form of a brand redesign, new uniforms, advertising campaigns, and the slogan "Inspired by You". This rebranding of the iconic Pick n Pay brand led to the disappearance of the apostrophe which appeared before the "n", which led to uproar among those working for the preservation of the apostrophe.
In 1984 a Pick n Pay Hypermarket was opened in Aspley, Queensland, and in Sunnybank Hills, Queensland, Australia in 1994. It was bought by Coles Myer in the 1990s.
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Wikipedia