The one-time leader in South Africa's groceries market, Pick n Pay (or PnP) has been overtaken in recent years by the faster-growing and more diversified Shoprite group. However Pick n Pay itself remains the country's foremost supermarket and hypermarket brand, supported by discount Boxer supermarkets, hardware and liquor stores. The group has over 1,650 company-owned or franchised stores within South Africa (including BP service station forecourts) as well as a growing estate of almost 150 outlets in neighbouring countries including Namibia, Botswana and Zambia. TM Supermarkets is a part-owned affiliate in Zimbabwe. Though publicly quoted, the group is still controlled by the Ackerman family. Raymond Ackerman established the business in 1967, after he was fired from supermarket giant Checkers (now part of rival Shoprite) for trying to introduce American-style retail systems. He bought the small Pick n Pay estate of four stores and expanded the business rapidly over the next 40 years before retiring in 2010. His son Gareth Ackerman is now chairman, and several other family members work within the business. Former Tesco executive Richard Brasher was appointed as CEO in 2013. Revenues for the year to Feb 2019 were over R86bn (around $6.0bn).
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Capsule checked 27th April 2020
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