Raymond Ackerman, founder of retail giants Pick n Pay has died at the age of 92, the group announced on Thursday morning. He is survived by his wife Wendy, children Gareth, Kathy, Suzanne and Jonathan, his 12 grandchildren and four great-grandchildren.

Together with Wendy, Raymond founded Pick n Pay in 1967 after buying four stores in Cape Town. The group has grown to more than 2,000 stores across South Africa and seven other African countries. He also came from a retailing family, his father founded Ackermans after World War 1.

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“With profound sadness, we announce that Pick n Pay founder Raymond Ackerman has passed away,” said Pick n Pay.

“A visionary entrepreneur, humanitarian and a great South African. Our country has lost a brilliant patriot who always saw a positive future for South Africa.”

Pick n Pay founder Raymond Ackerman has died
Raymond Ackerman, center, with sons Gareth and Jonathan. Image: Supplied


“From the outset, he lived by the core values that the customer is queen, that we must treat others as we would wish to be treated, and that doing good is good business,” the company said, adding that he was also a committed philanthropist.

“Raymond Ackerman was a man of the people; never too busy or too proud to make time for others. He remained humble throughout his life, and passionate about building a more just future for SA. He was an enduring optimist about SA’s future, and his passing leaves a great void for us all,” the group said.

Ackerman was also known for his retail sayings ‘doing good is good business’ and ‘poor people need low prices, rich people like low prices’.