Top 5 companies powering the Ackerman family empire

The Ackerman dynasty’s influence in African retail begins with Raymond Ackerman, who transformed four modest stores in Cape Town in 1967 into Pick ‘n Pay, a network of more than 2,000 outlets across eight African countries. 

His philosophy was simple: doing good is good business. Affordability, ethical pricing and fairness were not slogans but an operating doctrine. 

That discipline of values, scale and patience built one of Africa’s most formidable retail franchises, and shaped the next generation. 

Gareth Ackerman did not inherit stature; he built it from the shop floor upward. Rising through the ranks, he became chairman of Pick n Pay, steering the group through structural shifts in consumer spending, competition and capital allocation. 

Under his watch, the retailer has sharpened execution, reinforced its value positioning and protected market share in a demanding economy. 

His influence extends beyond the family flagship. Ackerman serves as chairman of the Consumer Goods Council of South Africa, positioning him at the center of policy and industry dialogue in one of Africa’s most sophisticated consumer markets. 

At the core of his wealth are strategic stakes across the Pick n Pay ecosystem, including Boxer Superstores and Pick n Pay Express, businesses that deepen the group’s reach from mass-market to convenience retail. 

These holdings cement his standing among South Africa’s most prominent business figures, with a commanding presence on the Johannesburg Stock Exchange. 

The Ackerman story is ultimately one of continuity, stewardship over spectacle, with Gareth extending a legacy built on disciplined growth and principled capitalism.

Shore Africa has identified and chronicled the top 5 renowned firms out of Ackerman’s family empire. These contribute to the family’s expanding wealth and reinforce his position as one of South Africa’s leading business figures:

1. Pick ‘n Pay
South Africa’s second-largest grocery retailer, Pick ‘n Pay, is a retail giant headquartered in Cape Town with more than 2,000 stores across eight African countries. Under long-time chairman Gareth Ackerman, the company expanded its footprint and diversified formats, with 957 company-owned stores and 747 franchises. The Ackerman family held a 25.53% stake as of 2025, although a strategic sale cut its voting interest from about 49% to roughly 36.8% and its economic interest from 26.7% to near 18.2% after the sale of 8.5% of shares amid restructuring. Pick ‘n Pay reported a R3.2 billion ($171 million) loss in 2024, before narrowing losses in 2025.

2. Boxer Superstores
Acquired by Pick ‘n Pay in 2002, Boxer Superstores is a South African discount supermarket with a footprint exceeding 200 locations. As a subsidiary of Pick ‘n Pay, it boasts 428 company-owned stores, strategically located across provinces, including eSwatini. Gareth Ackerman played a pivotal role in the acquisition and subsequent expansion, fortifying Boxer’s presence in the dynamic Southern African retail landscape.

3. TM Supermarkets
TM Supermarkets is a leading Zimbabwean supermarket chain operating nationwide under the Meikles group. Pick ‘n Pay of South Africa holds a 49% share in the business as an associate, with Meikles owning the remaining 51% majority stake. The chain spans major cities and towns across Zimbabwe, trading in both TM-branded and Pick ‘n Pay-branded stores.

4. Pick ‘n Pay Liquor
Pick ‘n Pay Liquor, the group’s value liquor arm, runs 506 stores nationwide, including 264 company-owned outlets and 242 franchises. Pick ‘n Pay Express operates more than 155 24-hour franchise stores on BP forecourts, offering top-up shopping and ready meals under a 2012 conversion deal.

5. The Ackerman Pick n Pay Foundation
Beyond business, Gareth Ackerman is a passionate contributor to global food security, sustainable development, and philanthropy. Currently leading the Ackerman’s Pick ‘n Pay Foundation, established in 1997, Gareth Ackerman honors the legacy of Raymond and Wendy Ackerman. This foundation serves as a lasting tribute to the founders of Pick ‘n Pay and is dedicated to maintaining the Ackerman name’s benevolence.