Saltzman sons sell R640m in Dis-Chem shares

Two sons of Dis-Chem founder Ivan Saltzman, Mark and Dan, have sold a total of R640 million in shares in the pharmacy group in what were almost identical transactions across January and February. This follows a decision in June by Ivan to gift a 25% stake in the retailer to the two sons.

At the closing price at the time, the 217 million shares were worth R6.8 billion. These were previously held by one of the founders’ investment vehicles, Ivlyn Holdings.

Read: Dis-Chem founder gifts R6.8bn stake to sons [Jun 2025]

In June, the group said Saltzman [Ivan] is “in the process of restructuring his interest in the Dis-Chem share portfolio which is held through Ivlyn Local Investment Holdings Proprietary Limited”.

“This restructuring involves the distribution 217 125 386 ordinary shares.” This was the bulk of their holding of 252 million shares.

Before that transaction, Ivan and co-founder Lynette Saltzman indirectly held 252 million shares in the group, equal to 29.31%. Post the deal, the two sons would each own a 12.62% stake in the company. Previously, neither held shares.

Transactions

The shares were disposed of by the sons in 22 transactions each over the past two months, in a range of between R35.68 and R37.57.

No further details or context was provided by the group in the announcement.

The largest transactions were the sale of 275 000 shares for R36, at a value of R99 million by each of the brothers on 9 January.

In June, Dis-Chem stressed that all distributed shares from the Ivlyn vehicle “will remain within the Saltzman family, thereby continuing current family ownership”.

This disposal concerns 17.64 million shares, and will see the family’s stake decrease further.

Read:
Dis-Chem set for stronger full-year performance [Oct 2025]
‘Lipstick effect’ powers SA’s beauty arms race [Jan 2026]

Neither Mark nor Dan have been involved in the business and not much is known about the latter (Mark is a commercial lawyer having founded Saltzman Attorneys & Notaries in 2006).

Both are believed to have emigrated.

Saltzman family continuing to exit Dischem. Two sons (both emigrated) sold part of the shares they received from the family trust recently. My guess is sales will continue until most (if not all) are liquidated. Understandably, neither involved in business & offshore.

— Syd Vianello (@Siddels1000) March 18, 2026

Third brother Saul had been an executive director of the group for 19 years. He resigned at the end of February.

Retirement

The plan is for Ivan to retire as an executive director at the end of June. He will remain as a non-executive and deputy chair. His wife Lynette stepped down in 2022.

Read:
Ivan Saltzman to leave as Dis-Chem CEO in June [May 2023]
The oldest CEOs on the JSE [May 2025]

Saltzman says it “has been an extraordinary privilege to help build Dis-Chem and to work alongside such talented and committed people”.

“With the progress made in building a strong leadership team, it is the right time to move to a more strategic position. As I step back from day-to-day responsibilities, I look forward to continuing to support the company’s ongoing success as deputy chairman.”

Listen:
Clicks vs Dis-Chem: Which one for your portfolio?
Clicks vs Dis-Chem: Which is the better investment?
Dis-Chem launches new rewards programme, ups dividend on higher profit

At the end of February 2025, Saul Saltzman held an interest in the business of just under 700 000 shares, from 2.4 million the year prior. Saul was not included in the disbursement of shares by his father.

Dis-Chem shares are down over 5% year-to-date, and closed Wednesday at R33.48.