South African billionaire Saltzman family sells head office in $25.5-million deal

The South African billionaire Saltzman family, along with other directors and prescribed officers of the retail pharmacy chain and healthcare group Dis-Chem Pharmacies, recently sold the company’s head office and Midrand distribution center to Dis-Chem in a $25.5-million deal.

The acquisition, completed recently, involves prime real estate assets including Erf 848 Halfway House Ext 119 and Erf 592-593 Halfway House Ext 81, situated at 23 Stag Road, Glen Austin, Midrand.

These properties, serving as Dis-Chem’s Midrand distribution center and head office premises, were sold by Ivan and Lynnette Saltzman — founders of the retail pharmacy chain and healthcare group — along with other directors and prescribed officers of the company.

This transaction is part of Dis-Chem’s strategic initiatives, which include the sale of three warehouses two years ago to a leading pharmacy group and a recent agreement to acquire 100-percent ownership of Columbia Falls Properties 7 Proprietary. These moves underscore the company’s dedication to optimizing its operational infrastructure.

Strengthening ties: Dis-Chem’s key acquisition from significant shareholders

The seller, The Directors Adventures Trust, is associated with significant shareholders and directors of Dis-Chem Pharmacies, including Ivan Saltzman, Lynette Saltzman, Saul Saltzman, Stanley Goetsch, Brian Epstein, and Kevin Sterling.

The transaction, classified as a small related party transaction under the JSE Limited Listings Requirements, underscores the close ties between the involved parties. Dis-Chem Pharmacies views this acquisition as a strategic move to consolidate its core distribution centers and head office premises in Midrand.

By owning these critical assets outright, the company aims to enhance its operational efficiency and ensure long-term strategic stability, aligning with its vision to remain a top player in South Africa’s retail healthcare industry.

Dis-Chem: A pillar of South Africa’s healthcare landscape for over four decades

Founded over four decades ago by Lynette and Ivan Saltzman, Dis-Chem has evolved into one of South Africa’s top retail healthcare groups. With a comprehensive array of services including dispensaries, family clinics, wound care clinics, and extensive self-medication centers, the company has established itself as a leader in the market.

The acquisition of the head office and distribution center represents a strategic milestone for Dis-Chem, reaffirming its commitment to optimizing operational infrastructure and securing long-term growth prospects.

With the backing of key stakeholders and directors, including the Saltzman family, the company continues to strengthen its position as a prominent player in South Africa’s retail pharmacy and healthcare sector.