JOHANNESBURG, Sept 7 (Reuters) - Raymond Ackerman, who founded Pick n Pay (PIKJ.J) from just four stores 56 years ago and turned them into one of South Africa's leading grocery retailers, has died aged 92, the company said on Thursday.
"It is with profound sadness that we announce the death at the age of 92 of visionary South African, and founder of Pick n Pay, Raymond Ackerman," the company said.
The Ackermans retail group was later sold to competitor Greatermans, which started the supermarket group Checkers, now part of bigger rival Shoprite (SHPJ.J).
After leaving Greatermans, Ackerman bought four small stores in Cape Town trading under the name Pick 'n Pay.
Today it generates 106 billion rand in annual turnover and owns more than 2,000 stores across South Africa and seven other African countries.
Persons:
Raymond Ackerman, Gus, Ackerman, Gareth, Pick, Nqobile Dludla, Christina Fincher
Organizations:
Greatermans, Thomson
Locations:
JOHANNESBURG, Greatermans, Cape Town, South Africa