Raymond Ackerman
Retail founder
By South African Index Editorial Desk · Published · Updated · Last reviewed
Raymond Ackerman founded Pick n Pay with Wendy Ackerman in 1967 after acquiring four small stores in Cape Town. He led the retailer for decades as chief executive and chairman. [1][2]
Biography
Ackerman came from a retailing family and founded Pick n Pay after buying four Cape Town stores in 1967. Pick n Pay’s own records identify Wendy Ackerman as his partner in establishing the business and as a founding executive. [1][3]
The company listed the following year. Ackerman remained chief executive until 1999, when the roles of chairman and chief executive were separated, and he continued in senior board roles thereafter. [2][4]
Pick n Pay’s later tribute records that Ackerman also developed franchise formats and remained active in entrepreneurial-development initiatives. He died in 2023 at the age of 92. [5][1]
Pick n Pay’s account identifies Wendy alongside Raymond in the founding partnership. The four acquired stores already traded under the Pick n Pay name. This distinguishes the modern group’s founder history from a claim that every initial store was newly created. [6][7]
The company records its first hypermarket in Boksburg in 1975. Its franchise history dates the first Family Store to Westville, Durban, in 1993. These formats added different routes for the group’s growth after the founding acquisition. [7][9]
The 2010 annual report records his retirement from the Pick n Pay Stores board on 1 March. It separately identifies the end of his chief executive tenure in 1999. These are different leadership milestones and should not be combined into a single departure date. [8]
Key contributions
Founded Pick n Pay with Wendy Ackerman and built the retailer from four Cape Town stores. [1][3]
Led the group for more than four decades across executive and chairmanship roles. [2]
His retail-building work included the development of hypermarket and franchise formats. The franchise model involved other owner-led businesses, rather than treating every location as the same corporate-owned operation. [7][9]
Life and career timeline
Founded Pick n Pay with Wendy Ackerman after acquiring four stores. [1]
Pick n Pay Stores Limited listed on the Johannesburg stock exchange. [4]
Ended his tenure as group chief executive when the chairman and CEO roles were split. [2]
Died at the age of 92. [1]
Pick n Pay opened its first hypermarket in Boksburg. [7]
First Family Store franchise opened in Westville, Durban. [9]
Retired from the Pick n Pay Stores board. [8]
Frequently asked questions
Did Raymond found Pick n Pay alone?
The company identifies Raymond and Wendy as founders. Its records also describe Wendy as a founding executive. [6][8]
Was 2010 the end of his chief executive tenure?
No. The report dates the separation of chief executive and chairman responsibilities to 1999. His Stores board retirement followed in 2010. [8]
Do the group’s Boxer shares represent his personal holding?
No such claim is made. The ownership disclosures describe the corporate group’s investment, not an individual founder’s personal shares. [10]
Related people
Associated organisations
Related research
Sources
- Pick n Pay, Pioneering South African Raymond Ackerman dies at 92, 2023-09-07. Original source. Accessed 2026-09-25. ↩
- Pick n Pay, Integrated Annual Report 2011: Board of directors, 2011-02-28. Original source. Accessed 2026-09-25. ↩
- Pick n Pay, Integrated Annual Report 2013: Board of directors, 2013-03-03. Original source. Accessed 2026-09-25. ↩
- Pick n Pay, Annual Report 2012: Group at a glance, 2012-02-29. Original source. Accessed 2026-09-25. ↩
- Pick n Pay, A Tribute to Raymond Ackerman. Original source. Accessed 2026-09-25. ↩
- Pick n Pay, Pioneering South African Raymond Ackerman dies at 92: founding partnership and retirement, 2023-09-07. Original source. Accessed 2026-10-19. ↩
- Pick n Pay, A Tribute to Raymond Ackerman: listing and hypermarket history. Original source. Accessed 2026-10-19. ↩
- Pick n Pay, Annual Report 2010: board biographies and retirements. Original source. Accessed 2026-10-19. ↩
- 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. ↩
- 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. ↩