South Africa’s pharmacy billionaires’ sons have sold Dis-Chem shares worth around $32 million, as the founding Saltzman family continues to restructure its ownership structure in one of the country’s major retail pharmacy chains.
Mark and Dan Saltzman both sold shares worth approximately R321 million between January and February 2026, following a dramatic restructure of the family’s holdings last year that elevated them to significant shareholder status for the first time.
The share sales occurred when Ivan Saltzman handed a 25% stake in Dis-Chem to the two brothers in 2025, reshaping control of the Johannesburg-listed business.
The 217 million shares, which were formerly held by the family investment vehicle Ivlyn Local Investment Holdings, were dispersed as part of what the business described as a reorganization of Ivan Saltzman’s stake.
According to Moneyweb, the firm stated at the time that Saltzman was “in the process of restructuring his interest in the Dis-Chem share portfolio,” and that “this restructuring involves the distribution of 217 125 386 ordinary shares.”
Dis-Chem stated that the shares would remain in the Saltzman family, hence maintaining present family ownership.
Before the deal, Ivan and Lynette Saltzman indirectly owned approximately 29.3% of the company.
Following the restructure, Mark and Dan each obtained approximately a 12.6% interest, despite having previously held no shares.
The restructure aligns with broader leadership changes within the company.
Their brother, Saul Saltzman, retired as executive director in February 2026 after nearly two decades in the position, but he continues to serve on the board as a non-independent non-executive director.
Ivan Saltzman stepped down as CEO in 2023 and will quit his executive director position in June 2026, while remaining deputy chairman.
He was followed by Rui Morais, the group’s previous CFO. Lynette Saltzman had previously resigned from her executive position in 2022.
The ownership changes come as Dis-Chem maintains its good financial performance.
For the six months ending August 31, 2025, revenue jumped 8.7% to R21.3 billion, while core retail profit before tax increased 25.8% year on year.
The 217 million shares donated to Mark and Dan were worth roughly R6.8 billion at the time of the share transfer, highlighting the magnitude of the family’s fortune linked to the firm.
The company also increased its footprint by building 17 additional pharmacy locations, bringing its total to 302 retail pharmacies and 44 infant stores, with plans to open 32 more by the end of the 2026 fiscal year.
Dis-Chem was founded in Johannesburg in 1978 and has since evolved to become one of South Africa’s leading pharmacy chains, with a growing presence across the continent.
The latest share sales by Mark and Dan Saltzman indicate a broader transformation within the family, as control gradually moves to a new generation while remaining majority owned.
The company is also investing in future expansion, with plans to launch a “Store of the Future” concept in 2027 and a new mobile app to boost its competitive position in Africa’s retail healthcare sector.