South African retail tycoon and leading business leader, Gareth Ackerman didn’t inherit success – he earned it from the aisles of his father’s retailer to the heights of the business world. As the strategic force behind Pick ‘n Pay, he isn’t just a front figure in the Ackerman family; he stands tall among South Africa’s wealthiest individuals, sculpting the future of African retail.
Following in the visionary footsteps of his father, Raymond Ackerman, the founder of Pick ‘n Pay, Ackerman has become a key player in the African retail sector. As the chairman of Pick ‘n Pay, he strategically navigates the market, solidifying his influence and earning a top spot among the most impactful figures in South Africa.
Ackerman’s business prowess extends beyond the retail giant, encompassing a diverse investment portfolio across various companies and sectors. Holding pivotal positions, such as chairman of the Consumer Goods Council of South Africa, he wields significant influence in the country’s business realm.
At the core of his wealth are strategic investments in companies like Pick ‘n Pay, Boxer Superstores, Pick n Pay Express, and more. These holdings anchor his status as one of South Africa’s esteemed billionaires, with a commanding presence on the Johannesburg Stock Exchange.
Ackerman’s rise to prominence mirrors the entrepreneurial spirit ingrained in his family. His commitment to success and diverse investments continues to leave an indelible mark on South Africa’s economic stage.
Billionaires.Africa has identified and cataloged various companies and holdings linked to Ackerman, these diverse stakes contribute to his expanding wealth and reinforce his position as one of South Africa’s leading business figures:
- Pick ‘n Pay
South Africa’s second-largest retailer, Pick ‘n Pay, stands as a retail giant with its headquarters in Cape Town and a vast network of over 2,000 stores spanning eight African countries. Under the adept leadership of Ackerman, the company has experienced significant expansion. The portfolio comprises 957 company-owned stores and 747 franchises, with the Ackerman family holding a substantial 25.53-percent stake valued at over $140 million.
- Boxer Superstores
Acquired by Pick ‘n Pay in 2002, Boxer Superstores is a South African discount supermarket with a footprint exceeding 200 locations. As a subsidiary of Pick ‘n Pay, it boasts 428 company-owned stores, strategically located across provinces, including eSwatini. Ackerman played a pivotal role in the acquisition and subsequent expansion, fortifying Boxer’s presence in the dynamic Southern African retail landscape.
- TM Supermarkets
Reflecting the Ackerman family’s influence, TM Supermarkets operates as a supermarket chain in Zimbabwe. As an associate entity, it is influenced by Ackerman’s family stake in Pick ‘n Pay. The company, operating under the Meikles group, spans major cities and towns in Zimbabwe, with Pick ‘n Pay Stores holding a noteworthy 49-percent ownership stake.
- Pick n Pay Express
Pick ‘n Pay Express, an offshoot of Pick ‘n Pay, specializes in convenient top-up shopping and quick meal solutions. Boasting over 155 franchise 24-hour stores on BP forecourts in South Africa, it is a strategic partnership that aligns with BP’s growth and investment plans, a result of an agreement in 2012 to convert up to 200 BP Express stores into Pick ‘n Pay Express stores.
- Pick n Pay Liquor
Positioned as the affordable liquor branch of the Pick ‘n Pay brand group, Pick n Pay Liquor has become a preferred destination for South Africans seeking a diverse and convenient selection of alcoholic beverages. The brand encompasses 264 owned stores and 242 franchises, totaling 506 stores nationwide.
- The Ackerman Pick n Pay Foundation
eyond business, Ackerman is a passionate contributor to global food security, sustainable development, and philanthropy. Currently leading the Ackerman’s Pick ‘n Pay Foundation, established in 1997, Ackerman honors the legacy of Raymond and Wendy Ackerman. This foundation serves as a lasting tribute to the founders of Pick ‘n Pay and is dedicated to maintaining the Ackerman name’s benevolence.