| Type | Public |
|---|---|
| Traded as | JSE: PIK |
| Industry | Retail |
| Founded | 1967[1] |
| Headquarters | Kenilworth, Cape Town, South Africa |
| Key people | Gareth Ackerman (Executive chairman) Nick Badminton (CEO) |
| Revenue | R54.7 Billion(FY 2009)[2] |
| Net income | R1.19 Billion |
| Total assets | R11.19 Billion |
| Total equity | R2.14 Billion |
| Employees | 50,000[3] |
| Website | http://www.picknpay.co.za |
Pick 'n Pay is a second largest supermarket chain store in South Africa, established in 1967. It can also be found in other regions of southern Africa, such as Botswana, Mozambique, Zambia, Zimbabwe and Namibia. The founder of the chain is Jack Goldin. Raymond Ackerman purchased three Pick 'n Pay supermarkets (in Cape Town from Goldin. Ackerman served as executive chairman until his retirement in 2010. His eldest son, Gareth, is the current chairman.[4]
Other supermarket store chains in South Africa that are part of the Pick 'n Pay group are Score Supermarkets and Boxer. However, Pick 'n Pay is currently converting Score supermarkets into Pick 'n Pay franchises. This initiative forms the core of Pick 'n Pay's economic empowerment scheme.
Due to a slump in profits, in July 2011 the company told labour unions that it would lay off 3,137 of its 36,673 staff.[5]
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On 12 November 2007, Pick 'n Pay announced a brand transformation in the form of a brand redesign (which has largely remained unchanged since the 70s), new uniforms, advertising campaigns, and the slogan "Inspired by You".This rebranding of the iconic Pick n Pay brand led to the disappearance of the apostrophe which appeared before the "n".
In 1984 a Pick 'n Pay Hypermarket was opened in Aspley, Queensland, and in Sunnybank Hills, Queensland, Australia in 1994. It was bought by Coles Myer in the 1990s.
Pick 'n Pay owns the remaining Franklins supermarkets in Australia, which were sold off by Dairy Farm International Holdings Limited in 2001 after the store's mass-expansion had landed the store in financial trouble. Other Franklins stores were bought by Coles Myer and Woolworths Limited and re branded under their respective supermarket brands.