Pick n Pay Stores Limited (Public, JNB:PIK) is an investment holding company. The Company consists of trading subsidiaries, which retail food, clothing, general merchandise, pharmaceuticals and liquor throughout southern Africa and in New South Wales, Australia, both on an owned and franchise basis. The Company operates in three segments: Pick n Pay, Boxer and Pick n Pay Insurance Cell Captive. Pick n Pay includes all retail operations, retailing food, clothing, general merchandise, pharmaceuticals and liquor under the Pick n Pay brand throughout southern Africa. Boxer includes all retail operations, retailing food, general merchandise and liquor in southern Africa under the Boxer brand. Pick n Pay Insurance Cell Captive includes the insurance cell captive, which provides insurance services.