Saturday, November 28, 2020

Pepkor Holdings

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https://www.pepkor.co.za
Pepkor is a South African-based investment and holding company with business interests in Africa, Australia, United Kingdom, Poland, Romania, Slovakia, and New Zealand. It manages a portfolio of retail chains focused on the value market selling predominantly clothing, footwear and textiles. Its main operating subsidiaries are Pep and Ackermans in South Africa and Best & Less in Australia, all based on a high volume/lower margin business model.[2] Formally known as PEP stores the company changed its name to Pepkor Limited in 1982 and PEP stores became a subsidiary company.[1] In 2011 Pepkor's chairman Christo Wiese was ranked as the 782nd richest person in the world on Forbes's list of the world's 1210 billionaires with an estimated net worth of US$1,6bn. In 2011 private equity company Brait bought a 24,6% stake in Pepkor for R4,18bn, valuing the company at about R17bn.[4] Pepkor aims to expand its presence in the rest of Africa by opening 50 stores in Nigeria.[5] In 2014 Christo Wiese sold Pepkor to Steinhoff International in exchange for about 20% of Steinhoff's issued shares.[6]

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