Abstract: In a pan unstacking and stacking system, stacks of pans are vertically positioned by pairs of spaced, parallel lift chains and pan engaging members mounted thereon. The lift chains are driven by drive shafts and drive sprockets which engage the upper and lower courses of a drive chain, respectively, thereby permitting adjustment of the spacing between the pan engaging members to accommodate pans of various sizes. The drive chain is in turn driven by a fluid powered cylinder operating through a clutch and brake apparatus to control the vertical positioning of the pan engaging members and pan stacks mounted thereon. Pans are transferred laterally relative to pan stacks supported on the pan engaging members by means of magnets positioned along a line in a horizontal plane situated above a stack and V-belts mounted for rotation around parallel courses situated on opposite sides of the line of magnets and including horizontal portions extending coincident therewith.