Henk Botes Financial Advisor

24/06/2025

The two South African brothers who just inherited R6.8 billion from a pharmaceutical empire

Brothers Dan and Mark Saltzman, the sons of Dis-Chem founders Ivan and Lynette Saltzman, have inherited R6.8 billion in company shares.

This is according to a Stock Exchange News Service (SENS) announcement by the company on Friday (20 June).

The 217 million shares represent over a quarter of the JSE-listed company and mark a significant shift in the family’s holding structure.

The transaction forms part of a broader restructuring by Ivan and Lynette, who founded Dis-Chem in 1978 and built it into one of South Africa’s leading pharmaceutical retailers.

Prior to the deal, the family investment vehicle, Ivlyn, held a 29.31% stake in the company. Following the share distribution, Ivlyn’s interest has decreased substantially to 4.06%.

Despite the shift, Dis-Chem confirmed that the shares remain within the Saltzman family, maintaining the existing family ownership structure.

“The transaction will not affect the liquidity of the company’s shares traded on the JSE,” the company said.

Dan and Mark Saltzman now each hold a 12.62% beneficial interest in the company (R3.4 billion each), up from previously having no interest.

While Dan and Mark do not currently serve on the board or hold executive positions, their substantial new shareholding could lead to changes in the group’s governance structure.

However, their brother, Saul Saltzman, remains deeply involved. With 20 years of experience at Dis-Chem, he serves as an executive director and has led several key divisions, including imports and the private label strategy.

The restructuring follows a wave of share sales by the Saltzman family and other executives in 2024, which analysts believe could signal a generational shift within the company.

Ivan Saltzman stepped down as CEO in 2023 after 45 years, succeeded by Rui Morais, formerly the company’s CFO.

In addition to the share distribution, Saul Saltzman sold over R120 million worth of shares last year, while executive director Stan Goetsch offloaded more than R300 million.

A South African pharmaceutical empire.

CONTINUE reading PUBLISHED in Businesstech 23/06/2025.
https://businesstech.co.za/news/business/828938/the-two-south-african-brothers-who-just-inherited-r6-8-billion-from-a-pharmaceutical-empire/
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