Pepkor

rdf:langString Pepkor

rdf:langString Pepkor

rdf:langString Pepkor

rdf:langString J H du Toit

rdf:langString P J Erasmus

rdf:langString Pepkor1.png

rdf:langString PEP stores, Ackermans, Best & Less, Dunns, John Craig, Harris scarfe, Incredible Connection, Pep&Co, Pepco Poland, Pepco Slovakia, Pepco Romania, Shoe City

rdf:langString Pepkor is a South African-based investment and holding company with business interests in Africa, Australia and Eastern Europe. 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. Formally known as PEP stores the company changed its name to Pepkor Limited in 1982 and PEP stores became a subsidiary company. In 2011 private equity company Brait bought a 24,6% stake in Pepkor for R4,18bn, valuing the company at about R17bn. Pepkor aims to expand its presence in the rest of Africa by opening 50 stores in Nigeria. In 2014 Christo Wiese sold Pepkor to Steinhoff International in exchange for about 20% of Steinhoff's issued shares. During the COVID-19 pandemic, Pepkor ceased to pay rents for its retail locations while the resultant lockdowns in South Africa prevented businesses from operating. In February 2022, South African holding company Pepkor acquired a majority stake in Brazilian retailer Grupo Avenida. The transaction, which is effective, marks the company's first foray into Latin America.