Raymond Ackerman, who built Pick n Pay Stores Ltd. up from scratch into one of South Africa’s biggest supermarket chains and spent 43 years with the company before retiring in 2010, has died. He was 92.
Raymond Ackerman was a South African businessman, who purchased the Pick ‘n Pay supermarket group from its founder.
He purchased four stores from Jack Goldin in the 1960s. Raymond Ackerman was chairman until he stepped down in 2010.
Raymond Ackerman Biography
After graduating from the University of Cape Town with a Bachelor of Commerce, he joined the Greatermans group in the Ackermans division in 1951 at the age of 20 as a trainee manager.
Ackermans had been founded just after World War I by his father Gus, but was sold to the Greatermans group in 1940.
Ackerman was eventually offered a position at Greatermans head office in Johannesburg. In the early 1950s, food retailing supermarkets first began to appear on the scene in South Africa.
Norman Herber, chairman of Greatermans decided to start a food retailer called Checkers. Ackerman was eventually put in charge of Checkers, making a resounding success of the business.
Ackerman won the Outstanding Young South African award in 1965, along with Gary Player and by 1966, at the age of 35, he was the managing director of 85 Checkers stores; however, he was fired in the same year.
In response, using his severance pay and a bank loan, Ackerman bought four stores in Cape Town trading under the name Pick ‘n Pay.
Under his leadership, Pick ‘n Pay eventually grew into one of Africa’s largest supermarket chains, with a thirty seven billion Rand turnover (2006 figure) and more than 124 supermarkets, 14 hypermarkets and 179 franchised outlets. The Pick ‘n Pay Group employs more than 30,000 people in several African countries.
On September 6, 2023, the Managing Director of the Katale Partnership, Nicky Bicket, announced that Ackerman had died at the age of 92.
What was Raymond Ackerman’s cause of death?
Raymond Ackerman, who founded Pick n Pay (PIKJ.J) from just four stores 56 years ago and turned them into one of South Africa’s leading grocery retailers, has died aged 92, the company said on Thursday.
“It is with profound sadness that we announce the death at the age of 92 of visionary South African, and founder of Pick n Pay, Raymond Ackerman,” the company said.
The precise cause of Raymond Ackerman’s death remains shrouded in privacy.
His family and representatives have not publicly disclosed the circumstances surrounding his passing.
This discretion respects the family’s wishes for a private and dignified mourning period.
Who were Raymond Ackerman’s parents?
Ackerman was born in South Africa to his parents. His father is named Gus Ackerman but his mother’s identity is unknown at this time of writing.
Gus Ackerman is said to be the founder of Ackermans, a South African chain of clothing retail stores.
Did Raymond Ackerman have any siblings?
Raymond never shared any information regarding his siblings hence we can’t state whether or not he’s the only child of his parents. There are no records about that.
Who was Raymond Ackerman married to?
Raymond Ackerman was married to his wife, Wendy Ackerman. It’s unclear when they met and when they tied the knot.
The Love Birds founded Pick n Pay in 1967 after buying four stores in Cape Town. The couple retired from the board in 2010. Wendy is a non-executive director of Pick n Pay Holdings Limited.
Did Raymond Ackerman have any children?
Ackerman leaves behind four children Suzanne, Kathryn, Jonathan, and Gareth, his 12 grandchildren, and 4 great-grandchildren .
What was Raymond Ackerman’s net worth?
Before Ackerman died in September 2023, he had an estimated net worth of about $500 million.
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