Cape Town – The iconic figure behind South African retail giant Pick n Pay, Raymond Ackerman, has died.
He was 92.
Tributes are pouring in following his passing.
Ackerman is survived by his wife Wendy, children Gareth, Kathy, Suzanne and Jonathan, his 12 grandchildren and four great-grandchildren.
JUST IN: Retail Giant Raymond Ackerman has passed away at age 92
A man who made his mark in the South African #retail landscape. With over 1600 PnP stores across South Africa, the @PicknPay company has a R17 billion market cap.
RIP to the legendary founder & owner – Raymond… pic.twitter.com/78mN4PdFGs
— Ash Müller (@askashbroker) September 7, 2023
Known as a visionary entrepreneur and humanitarian, Ackerman started his career with Ackerman’s, a retail chain founded by his father, and later became the CEO of Checkers, News24 reported.
In 1967, he purchased four Cape Town stores named Pick n Pay and transformed them into a rapidly expanding retail chain.
Under his leadership, Pick ‘n Pay achieved significant milestones, including introducing “no name” food brands, in-store banking, and advocating for petrol price deregulation, said the report.
When he stepped down as CEO in 1999, the company had a turnover of over R1 billion, and today, it boasts a market capitalisation of R17 billion, with stores across South Africa and Southern Africa.
Ackerman and his family were also deeply involved in philanthropic efforts, including educational and community upliftment programs.
Follow African Insider on Facebook, Twitter and Instagram
Picture: Twitter/@ashashbroker
For more African news, visit Africaninsider.com
Compiled by Betha Madhomu
