Listing trumpets robust Dis-Chem health
Soap-to-snacks pharmacy chain piques interest here and abroad
No one seems more surprised at the level of interest in the listing of Dis-Chem than Ivan Saltzman, who founded the pharmacy chain - one of the most successful family businesses in South Africa - 38 years ago with his wife, Lynette. It is the largest food and drug retailer listing in the past decade, as well as one of the largest new listings overall. This week, Saltzman was feeling "a little emotional" as the family prepared to sell a portion of the group and take some of the proceeds from their years in business. "I'm a little surprised at the interest, I really am." The business has grown at a stellar pace, especially over the past few years. At the time the prospectus was released last month there were 101 stores. Since then, that tally has grown to 106. Two stores were opened on Tuesday and six are to open on Thursday. Everyone wants to open before Christmas, and the last Thursday of November is the best day for this. "If you open later, you're constrained to some degree," says...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.