Pick n Pay founder Raymond Ackerman has passed away at the age of 92.
Ackerman and his wife Wendy founded Pick n Pay in 1967 after buying four stores in Cape Town.
Ackerman – whose father founded retailer Ackermans after World War 1 – listed Pick n Pay on the Johannesburg Stock Exchange in 1968. For example, in 1986, Pick n Pay launched a court challenge against the government’s coupon scheme, which gave customers grocery discounts with fuel purchases. Pick n Pay and the government battled in court 26 times, with the retailer losing every time.
Many institutions also honoured him for his services to both business and society, with him receiving seven honorary doctorates.
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Retail icon Raymond Ackerman passes awayAged 92.
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