Raymond Group in South Africa

South Africa Mourns the Passing of Retail Pioneer Raymond Ackerman

Johannesburg, 7 September 2023 – Raymond Ackerman, the visionary founder of Pick n Pay, South Africa’s leading supermarket chain, has passed away at the age of 92. His death was confirmed by the company on Thursday morning. (timeslive.co.za)

Ackerman’s journey in retail began in 1967 when, alongside his wife Wendy, he acquired four stores in Cape Town, laying the foundation for what would become a retail empire. Under his leadership, Pick n Pay expanded to over 2,000 stores across South Africa and seven other African countries. (timeslive.co.za)

Known for his commitment to consumer rights and ethical business practices, Ackerman was instrumental in challenging monopolies and advocating for fair pricing. His philosophy that “doing good is good business” resonated throughout the company’s operations. (timeslive.co.za)

In 2010, Ackerman stepped down as chairman, passing the baton to his son, Gareth Ackerman. Despite his retirement, he remained actively involved in the company’s philanthropic initiatives, focusing on education and community development. (timeslive.co.za)

The retail sector has experienced significant changes following Ackerman’s passing. In March 2025, Pick n Pay closed 32 underperforming stores, including its Hyde Park Corner location. This strategic move allowed Shoprite to establish a flagship Checkers FreshX store in the prime Johannesburg area, signaling a shift in the competitive retail landscape. (billionaires.africa)

Raymond Ackerman’s legacy as a retail pioneer and philanthropist continues to influence South Africa’s business landscape. His dedication to ethical practices and community upliftment has left an indelible mark on the nation’s retail industry.

South Africa’s Retail Landscape Post-Ackerman:

• Shoprite takes over Pick n Pay’s Hyde Park space—a shift after Raymond Ackerman’s passing