Saltzman family gains $18.8 million as Dis-Chem shares climb

Feyisayo Ajayi -
Key Points
  • The Saltzman family's stake in Dis-Chem Pharmacies has surged by R332.27 million ($18.79 million) in the past 42 days, pushing its market value closer to $620 million.
  • The family controls a 29.3 percent stake, equivalent to 302,066,319 ordinary shares in the Gauteng-based company. 
  • Dis-Chem shares on JSE have risen 3.15% since Sept. 13, boosting the company's market cap above $1.8 billion and benefiting shareholders.

The Saltzman family, founders of Dis-Chem Pharmacies, South Africa’s leading retail pharmacy chain, has enjoyed a major boost in their fortune following a rise in the market value of their stake in the company, listed on the Johannesburg Stock Exchange (JSE).

The family controls a 29.3 percent stake, equivalent to 302,066,319 ordinary shares in the Gauteng-based company. 

As of Oct. 25, the value of their shares surged from R10.56 billion ($597.45 million) on Sept. 13 to R10.9 billion ($616.24 million), reflecting a gain of R332.27 million ($18.79 million), and cementing their position among South Africa’s wealthiest families.

Rebound from previous losses

The Saltzman family’s recent gains offset earlier losses between Aug. 27 and Sept. 4, when the value of their holdings fell by $23.28 million, dropping from R10.98 billion ($613 million) to R10.56 billion ($590 million).

Since mid-September, Dis-Chem shares have increased 3.15 percent, rising from R34.97 ($1.978) to R36.07 ($2.040), pushing the company’s market capitalization past $1.8 billion.

Shareholders have gained 13.91 percent year-to-date as the company reported its highest-ever six-month normalized EBITDA in the second half of fiscal 2024, with EBITDA up 17 percent from H1 2024, signaling sustainable growth momentum.

For investors, a $100,000 investment at the start of 2024 would now be worth about $117,865—an increase of $17,865.

Retail giant's leadership and growth

Founded by Lynette and Ivan Saltzman over four decades ago, Dis-Chem has grown into one of Africa’s largest pharmacy chains, with more than 300 stores and 20,000 employees.

The company offers a wide range of healthcare services, including family clinics, dispensaries, and self-medication centers, maintaining a significant impact on South Africa’s health sector and economy.

The Saltzman family’s sustained success reflects Dis-Chem’s strong market performance and solidifies the company’s standing as a leader in the retail pharmacy industry.