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Pick n Pay

Pick n Pay is a South African retailer founded in 1967 by Raymond Ackerman with Wendy Ackerman after the family acquired four small stores in Cape Town.

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Pick n Pay supermarket in Cape Town with its signage and marked collection parking bays.
A Pick n Pay store in Cape Town on 27 April 2025. File photograph, not a photograph of the 1967 acquisition. Resized and converted to WebP without cropping. Photo: Husskeyy / Wikimedia Commons · Source · CC BY-SA 4.0. Resized and converted to WebP without cropping. Adaptation available under the same licence.

Pick n Pay is a South African retailer founded in 1967 by Raymond Ackerman with Wendy Ackerman after the family bought four small Cape Town stores. Company records describe Ackerman as the founder and Wendy Ackerman as a founding executive. [1][2]

History

The first four stores were acquired in Cape Town in 1967. The company listed the following year and expanded from that initial base into a multi-format retail group. [3][4]

Raymond Ackerman remained closely involved for more than four decades, serving as chairman and, until 1999, chief executive. Wendy Ackerman played a continuing role in employee liaison and benefits and is identified by Pick n Pay as one of the founding executives. [5][2]

The 2010 annual report records Wendy Ackerman’s work in employee liaison, benefits and bursary funds. It identifies her as a founding executive and records her retirement from the Stores board on 1 March 2010. Her founding role is now included explicitly in this record. [8]

Boxer joined the group in 2002 after an operating history that began in Empangeni in 1977. Its separate JSE listing on 28 November 2024 reduced group ownership from 100% to 65.6%, without a loss of control. [10][12]

Boxer’s equity holding and retained control

The completed 18 May 2026 placement raised R4.7 billion gross from 57.3 million Boxer shares. Group ownership reduced from 65.6% to 53.1%. Note 36.4 of the FY2026 financial statements explicitly records no loss of control. [12]

The 53.1% figure describes a corporate equity interest. It is not assigned here as a separate voting percentage or a personal holding of the Ackermans. Pick n Pay’s overview displayed that holding when reviewed on 19 October 2026. [12][13]

Frequently asked questions

Who founded the modern Pick n Pay business?

The company identifies Raymond and Wendy Ackerman as founders after the four-store acquisition in 1967. [7]

Is every Pick n Pay store company-owned?

No. The group operates both owned and franchise stores. Its first Family Store franchise opened in Westville in 1993. [9][13]

Does the group still control Boxer after the 2026 share sale?

The financial statements explicitly record no loss of control after the holding reduced to 53.1% on 18 May 2026. [12]

Key milestones

  1. Raymond and Wendy Ackerman established Pick n Pay after acquiring four Cape Town stores. [1]

  2. Pick n Pay Stores Limited listed on the Johannesburg stock exchange. [3]

  3. The first Pick n Pay Family Store franchise opened in Westville, Durban. [6]

  4. Acquired Boxer. [10]

  5. Boxer listed separately, with group control retained. [11][12]

  6. Boxer share placement completed, reducing the holding to 53.1%. [12]

Founded / co-founded by

  • Raymond Ackerman — South African retailer who founded Pick n Pay with Wendy Ackerman in 1967 after acquiring four Cape Town stores.
  • Wendy Ackerman — South African retail co-founder and founding executive of Pick n Pay, known for employee liaison, benefits and bursary responsibilities.

Related articles

  • The Founders Who Built South African Retail
    Raymond Ackerman founded Pick n Pay; Stewart Cohen and Laurie Chiappini co-founded Mr Price; Whitey Basson built Shoprite after an existing chain was acquired. Their histories show why “founder” is not one universal category.
  • Pick n Pay and Boxer: Founders, Growth and Control
    Trace Pick n Pay’s 1967 start, Wendy Ackerman’s role and Boxer’s growth. Understand the 2024 listing, 2026 share sale and how equity differs from control.

Related institutions

  • Boxer — South African discount retailer with Empangeni operating roots in 1977, acquired by Pick n Pay in 2002 and separately listed in November 2024.

Sources

  1. Pick n Pay, A Tribute to Raymond Ackerman. Original source. Accessed 2026-09-25. ↩
  2. Pick n Pay, Integrated Annual Report 2013: Board of directors, 2013-03-03. Original source. Accessed 2026-09-25. ↩
  3. Pick n Pay, Annual Report 2012: Group at a glance, 2012-02-29. Original source. Accessed 2026-09-25. ↩
  4. Pick n Pay Investor Relations, The Pick n Pay Group. Original source. Accessed 2026-09-25. ↩
  5. Pick n Pay, Integrated Annual Report 2011: Board of directors, 2011-02-28. Original source. Accessed 2026-09-25. ↩
  6. Pick n Pay, Pick n Pay’s army of franchisees sees the future of retail. Original source. Accessed 2026-09-25. ↩
  7. Pick n Pay, Pioneering South African Raymond Ackerman dies at 92: founding partnership and retirement, 2023-09-07. Original source. Accessed 2026-10-19. ↩
  8. Pick n Pay, Annual Report 2010: board biographies and retirements. Original source. Accessed 2026-10-19. ↩
  9. Pick n Pay, Pick n Pay’s army of franchisees sees the future of retail: Westville origins in 1993. Original source. Accessed 2026-10-19. ↩
  10. Boxer, About us: Empangeni origins, 2002 acquisition and operating model. Original source. Accessed 2026-10-19. ↩
  11. Boxer, Boxer becomes the first discount retailer to list on the JSE, 2024-11-28. Original source. Accessed 2026-10-19. ↩
  12. Pick n Pay, Audited Annual Financial Statements 2026: partly-owned subsidiary note 22 and subsequent event note 36.4. Original source. Accessed 2026-10-19. ↩
  13. Pick n Pay, PnP at a glance: operating formats and 53.1% Boxer shareholding. Original source. Accessed 2026-10-19. ↩