Raymond Ackerman, the founder of Pick n Pay, has passed away at the age of 92.
- Pick n Pay announced the news with profound sadness, describing Ackerman as a visionary entrepreneur, humanitarian, and patriot.
- Ackerman started his career with the retail chain Ackerman’s, founded by his father, before acquiring four Cape Town stores named Pick n Pay in 1967.
- Under Ackerman’s leadership, Pick n Pay expanded rapidly and introduced several retailing innovations, including “no name” food brands and in-store banking.
- He played a significant role in the deregulation of the petrol price and was known for his commitment to philanthropic causes.
- Ackerman stepped down as CEO of Pick n Pay in 1999 but remained the chair of the group until 2002 when his son Gareth took over.
- His legacy includes not only building a successful retail empire but also his contributions to education, community upliftment, and entrepreneurial programs through various philanthropic initiatives.