The founder of Pick n Pay retail company, Raymond Ackerman, has died at the age of 92, the company has announced. In a statement released on X (formerly Twitter), the company confirmed his death. In a statement seen by Pindula News, the company said Raymond Ackerman was a visionary entrepreneur, a humanitarian, and a remarkable South African. Read the statement:
With profound sadness we announce that Pick n Pay founder Raymond Ackerman has passed away. A visionary entrepreneur, humanitarian and a great South African. Our country has lost a brilliant patriot who always saw a positive future for South Africa.
Raymond Ackerman made a significant impact on the retail landscape of South Africa. With over 1600 Pick n Pay stores across the country, the company holds a market capitalisation of R17 billion.
Together with his wife Wendy, Raymond Ackerman established Pick n Pay in 1967 by acquiring four stores in Cape Town. Over the following 56 years, the retail group expanded to include more than 2,000 stores in South Africa, Zimbabwe, Namibia, Botswana, Zambia, Nigeria, Eswatini, and Lesotho.
Aside from his business ventures, Ackerman engaged in various notable endeavours. He initiated 26 battles against the government on petrol price reductions, although he did not emerge victorious. In 1989, he joined a group of businessmen in calling for the release of Nelson Mandela during a meeting with then-President FW de Klerk.
In 2004, Raymond Ackerman established the Raymond Ackerman Academy for Entrepreneurial Development in collaboration with UCT and later the University of Johannesburg. The academy has empowered numerous aspiring entrepreneurs.
Having retired from the board of Pick n Pay Stores Limited in 2010, Raymond and Wendy assumed the role of honorary life presidents. Ackerman, an alumnus of Bishops Diocesan College, served as the president and patron of the Old Diocesan Union. He was bestowed with seven honorary doctorates from local and international universities.
Raymond Ackerman is survived by his wife Wendy, their children Gareth, Kathy, Suzanne, and Jonathan, as well as twelve grandchildren and four great-grandchildren.