Remembering the Retail Visionary: Raymond Ackerman's Legacy in South Africa

Raymond Ackerman, the visionary founder of Pick n Pay, a prominent figure in the retail industry, and a beloved South African, passed away at the age of 92, according to an announcement made by Pick n Pay on a somber Thursday morning.

The statement issued by Pick n Pay described Ackerman as not only a business pioneer but also a humanitarian who held a deep love for his country. South Africa, it lamented, had lost a brilliant patriot who always envisioned a brighter future for the nation.

Raymond Ackerman’s journey began in Cape Town, where he was raised and educated, ultimately earning a commerce degree from the University of Cape Town. His initial career steps were taken in the family business, Ackerman’s, which had been established by his father, Gus. However, in 1946, Greatermans acquired Ackerman’s, leading to the birth of the Checkers supermarket group. Raymond Ackerman assumed the role of CEO at Checkers in 1959 but faced dismissal seven years later due to disagreements with the Greatermans board.

Undeterred, in 1967, he embarked on a new venture, purchasing four Cape Town stores named Pick n Pay with the support of investors. This humble beginning marked the inception of a retail empire that would grow rapidly. By 1975, Ackerman achieved another milestone by opening South Africa’s first hypermarket, a colossal 22,000m² store located in Boksburg.

Ackerman’s legacy extended beyond mere business expansion. He was a trailblazer in various aspects of retail, introducing innovations like “no name” food brands and in-store banking. His commitment to advocating for petrol price deregulation was also notable.

When he stepped down as CEO in 1999, Pick ‘n Pay boasted an annual turnover exceeding R1 billion. Today, the retail giant commands a market capitalization of R17 billion and operates numerous stores across South Africa and Southern Africa. His son, Gareth Ackerman, succeeded him as the company’s chairman in 2002.

Raymond Ackerman’s dedication to philanthropy was equally remarkable. Alongside his wife Wendy and their four children – Suzanne, Kathryn, Jonathan, and Gareth – he championed various charitable causes. Notably, they established a trust that funded educational initiatives and supported community upliftment and entrepreneurial programs.

In a reflection written when he celebrated his 90th birthday in 2021, Ackerman acknowledged South Africa’s challenges but maintained his belief in the nation’s resilience. He found hope in the way people persevered and cared for one another amid adversity, reinforcing his conviction in a brighter future for South Africa. Raymond Ackerman’s indelible contributions to business, philanthropy, and his enduring optimism will be remembered and cherished by many.