Businessman and Pick n Pay founder Raymond Ackerman (92) has died. The news of his passing was shared by the supermarket chain this morning. He opened the first chain of Pick n Pay stores in 1967 and expanded across Southern Africa.

RIP

The retailer made the announcement in a statement saying he will be dearly missed. "With profound sadness, we announce that Pick n Pay founder Raymond Ackerman has passed away. 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," they shared in a statement.

A LIFE WELL-LIVED

Originally from the Western Cape, Raymond matriculated from the Diocesan College and earned a commerce degree from the University of Cape Town. In his career in retail, he took over the chain of Ackerman's stores, founded by his father Gus Ackerman. The family later sold the business to Greatermans, who also formed the Checkers supermarket group. Raymond was then made the CEO of Checkers in 1959 but was fired after a fallout seven years later. Raymond bought four Cape Town stores named Pick n Pay with the help of investors in 1967, which expanded. He pioneered the No Name brand. He stepped down as CEO of Pick n Pay in 1999. Pick n Pay had a turnover of more than R1 billion. He appointed his son to be the new CEO. He and his wife Wendy have four kids. The Ackerman family has contributed to philanthropic causes.