Early Life
Daryl Allan Katz was born on May 31, 1961, in Edmonton, Alberta, Canada. His father, Barry Katz, was a pharmacist who owned drug stores, 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
After completing his education, Katz started his career in law, focusing on corporate and franchise law. However, his entrepreneurial spirit led him to the pharmaceutical industry. In 1991, Katz acquired the Canadian franchise rights to the Medicine Shoppe pharmacy chain for $300,000, marking the beginning of the Katz Group of Companies. He expanded his pharmacy holdings aggressively through acquisitions, including Rexall, PharmaPlus, and Drug Trading Company between 1994 and 1999.
Key Business Strategies
Katz's business strategy focused on consolidating smaller entities, prioritizing operational efficiencies, and gaining market share in a competitive industry. He later sold his pharmacy operations to McKesson Corporation. Following the sale of his pharmacy business, Katz pivoted to real estate and entertainment. He invested heavily in the development of the Ice District in downtown Edmonton, a mixed-use sports and entertainment complex. A key part of his business strategy was the acquisition of the Edmonton Oilers in 2008 for $200 million.
Philanthropy
Daryl Katz is involved in several philanthropic endeavors, including donations to the University of Alberta Faculty of Pharmacy and Pharmaceutical Sciences and Faculty of Law, as well as Mount Sinai Hospital in Toronto. He has also donated millions to the Stollery Children's Hospital in Edmonton.
