Brothers Dan and Mark Saltzman, sons of Dis-Chem founders Ivan and Lynette Saltzman, have recently inherited shares worth about R6.8 billion in the company. This development was made public through a Stock Exchange News Service (SENS) announcement released by Dis-Chem on Friday, June 20.
The brothers now hold a combined total of 217 million shares, which represents over a quarter of the shares in the company listed on the Johannesburg Stock Exchange (JSE). This inheritance marks a significant change in the Saltzman family’s shareholding structure. Before this transaction, the family’s investment vehicle, Ivlyn, owned nearly 29.31% of the company’s shares. After the share transfer, Ivlyn’s stake has dropped dramatically to 4.06%.
Despite the change in ownership percentages, Dis-Chem confirmed that the shares still belong to the Saltzman family. This means the family’s control over the company remains intact. The company also assured investors that this transaction will not affect the liquidity or trading of Dis-Chem’s shares on the JSE.
Dan and Mark Saltzman did not hold any shares before this transaction, so their new 12.62% stake each is a big increase in their personal wealth and influence in the company. However, they do not currently hold any positions on the company’s board or in executive management. Their substantial shareholding might lead to changes in how the company is governed in the future.
Their brother, Saul Saltzman, remains an active figure in Dis-Chem. With more than 20 years of experience at the company, Saul is an executive director. He has led important parts of the business such as the imports division and the private label product strategy. This involvement shows that the family is still very connected to the company’s daily operations and strategic decisions.
The share restructuring is seen as part of a larger generational change within Dis-Chem. In 2024, there were several sales of shares by Saltzman family members and other executives. Analysts have suggested this activity might signal a shift in leadership from the founders’ generation to younger family members.
Ivan Saltzman, who co-founded Dis-Chem with his wife Lynette in 1978, stepped down as CEO in 2023 after leading the company for 45 years. He was succeeded by Rui Morais, who was previously the company’s Chief Financial Officer (CFO). This leadership change aligns with the family’s efforts to modernize and prepare Dis-Chem for future growth.
In addition to the share inheritance, other family members also sold shares recently. For example, Saul Saltzman sold shares worth more than R120 million in 2024. Executive director Stan Goetsch also sold shares exceeding R300 million that year.
Dis-Chem’s history began humbly in 1978 when Ivan and Lynette opened a small pharmacy in Mondeor, Johannesburg. With only a R10,000 capital investment, they started the business after Ivan, who was frustrated with how the pharmacy operated during his locum work there, decided to buy it. This small pharmacy would grow into one of South Africa’s biggest and most well-known pharmacy retail chains.
Ivan was born in 1950 in Port Elizabeth and met Lynette while they were both studying pharmacy at the University of the Witwatersrand. Together, they wanted to do business differently from other pharmacies at the time. Ivan said they started with the same products and prices as competitors but soon began offering a wider range of products such as earrings and health supplements. This strategy attracted customers and quickly helped them make a profit.
By 1984, they opened a second store at Randridge Mall. This move was bold because many people were hesitant about the new shopping center. Their model, which combined discounted medicines and expanded product offerings, proved very successful. Dis-Chem grew rapidly throughout the late 1980s and 1990s, especially in Johannesburg and Pretoria.
Lynette played a key role in this growth by managing the Fourways store, which achieved an impressive monthly turnover of R2 million—a very large figure for that time. She also focused on building the company’s beauty products, helping Dis-Chem become a leading beauty destination in South Africa.
During the 1990s and early 2000s, Dis-Chem grew aggressively. They introduced private-label products in 1997 and created the Dis-Chem Foundation in 2006, showing their commitment to corporate social responsibility.
By 2016, the company had grown to 100 stores and achieved revenues of R15.5 billion. That same year, Dis-Chem listed on the Johannesburg Stock Exchange. Ivan described this move as an important next step in the company’s growth, and both he and Lynette remained deeply involved.
The company’s growth continued, and by 2025, Dis-Chem had expanded to 330 stores across South Africa. This included 285 pharmacies and 45 baby outlets, with a market capitalization reaching R27 billion.
This major restructuring of shares and ongoing growth reflect the Saltzman family’s efforts to keep Dis-Chem competitive and strong for the future. It also highlights the company’s success in becoming a household name in South Africa’s retail pharmacy sector.
