Early Life and Education
Daryl Allan Katz was born in Edmonton, Alberta, Canada, in 1961. His father, Barry Katz, was a pharmacist, which inspired Daryl's future endeavors. He attended the University of Alberta, earning a Bachelor of Arts degree in 1982 and a law degree in 1985.
Rise to Success
Katz began his career as a lawyer specializing in corporate and franchise law before entering the pharmaceutical industry. In 1991, he purchased the Canadian rights to the Medicine Shoppe pharmacy franchise. He then acquired the Rexall drugstore chain and expanded the business to over 470 stores across Canada. Katz's buying spree was largely bankrolled by internal cash flow, leading to rapid sales growth.
Key Business Strategies
Katz focused on expanding his pharmacy business through strategic acquisitions, including Pharma Plus and Drug Trading Co. He rebranded the company under the Rexall name to build the second-largest integrated pharmacy business in Canada. In 2016, the Katz Group sold Rexall Health to McKesson Corp. for CAD 2.9 billion. Katz has since pivoted his Katz Group to real estate and entertainment.
Philanthropy
Katz has been involved in philanthropy, including a $7 million donation to the University of Alberta Faculty of Pharmacy and Pharmaceutical Sciences and Faculty of Law in 2006. In 2009 Katz donated $20 million to Mount Sinai Hospital in Toronto. Between 2005 and 2010, Katz and his wife donated over $50 million to organizations across Canada.
