Nick Badminton (CEO of Pick n Pay Stores Limited)

The Pick n Pay Group is South Africa’s second largest food, clothing and general merchandise retailer. The entity is a public company substantially owned and run by the family of legendary founder Raymond Ackerman.

In 1967 Ackerman purchased four small stores from Jack Goldin, launching Pick n Pay as South Africa’s first food discounter. Listed on the JSE the following year as Pick n Pay Stores Ltd, its appearance among the Sunday Times Top 100 companies in 1969 reflected its rapid growth to prominence.

The Group consists of approximately 460 corporate and 330 franchise stores, and approximately 50 TM Supermarkets in Zimbabwe (associate). Pick n Pay is in the midst of negotiations to sell its Australian component, Franklins. Initial plans to sell the business to Metcash have been opposed by the Australian Competition and Consumer Commission, and the judgement is expected by the end of July 2011. The market awaits Pick n Pay’s announcement regarding next steps in this regard.

Management attributes the growth and success of the Group to an unwavering belief in consumer sover-eignty and in applying the ‘four legs of the table’ principle – administration, merchandise, promotion and social responsibility and people. These principles were put into practice at foundation, and continue to be the cornerstone of the Pick n Pay business... MORE