Table of Contents
Key Points:
- The Ackerman family exits Pick ‘n Pay after 57 years, ending a legacy of retail leadership in South Africa.
- Raymond Ackerman founded Pick ‘n Pay in 1967, growing it into one of Africa’s largest retail chains with a focus on consumer rights.
- Ackerman’s commitment to social justice and consumer advocacy set Pick ‘n Pay apart, influencing both business practices and societal change.
The Ackerman family, a pillar of South African retail for nearly six decades, has officially stepped down from their ownership and leadership roles at Pick ‘n Pay, marking the end of an era that began in 1967.
This departure shows the close of a chapter that saw the family grow Pick ‘n Pay into one of Africa’s largest and most influential retail chains, with a market cap of R17.4 billion ($974 million) and a turnover exceeding R108 billion ($6 billion) in 2024.
The story of Pick ‘n Pay is also the story of Raymond Ackerman, the visionary entrepreneur who transformed a modest four-store purchase into a retail powerhouse, deeply intertwined with South Africa’s socio-political landscape.
From Checkers to Pick ‘n Pay: How Raymond Ackerman’s vision redefined retail in South Africa
Raymond Ackerman’s journey to founding Pick ‘n Pay began unexpectedly when he was fired from his position at Checkers, where he had rapidly ascended to become the managing director by age 35.
Undeterred by this setback, Ackerman used his severance pay and a small inheritance to acquire four stores in Cape Town, laying the foundation for what would become a retail giant.
Under his leadership, Pick ‘n Pay not only grew in size but also in influence, with Ackerman’s commitment to consumer rights and social justice becoming hallmarks of the brand.
The legacy of Raymond Ackerman’s consumer-centric approach
Ackerman’s philosophy — “doing good is good business” — guided Pick ‘n Pay’s expansion and its approach to social responsibility. His efforts to lower prices, even at the cost of legal battles, and his stance against apartheid by promoting black employees into management positions, set Pick ‘n Pay apart from its competitors.
Ackerman’s legacy is not only one of business acumen but also of profound social impact, as he used his influence to champion consumer rights and challenge unethical practices in the industry.
With his passing in 2023 and the family’s recent exit from the company, the Ackerman legacy continues to be felt across South Africa’s retail landscape.
