Boxer
Coverage of Boxer in the Nexus archive.
- Pick n Pay Sells More of Boxer as Family Era Fades
Pick n Pay sold R4.7 billion of Boxer, utilizing its discount chain as the Ackerman family's six-decade era concludes. The sale reflects a strategic shift as the family's long-standing influence fades.
- Boxer who made nearly £50,000 dealing drugs is ordered to pay back £1
A boxer who earned nearly £50,000 from drug dealing has been ordered to repay only £1. The case highlights a discrepancy between the profits made through illegal activities and the minimal financial penalties imposed.
- South African grocer Pick n Pay raises nearly $300M
South African supermarket chain Pick n Pay raised approximately $300 million by selling a 12.5% stake in its discount subsidiary Boxer to address financial losses. The capital injection will support CEO Sean Summers' restructuring efforts including cost cutting and store closures. This share sale reduces Pick n Pay's ownership stake in Boxer to about 53% following Boxer's 2024 IPO.
- UK reloads artillery plans with £1B remote-control howitzer order
The UK Ministry of Defence has announced a £1 billion contract to provide the British Army with 72 next-gen mobile artillery units, featuring remote-controlled howitzers mounted on Boxer armored vehicles. The new system will replace the aging AS-90 self-propelled howitzers and provide artillery support against targets up to 70 km away. Deliveries are expected to start in 2028.