Early Life
Daryl Allan Katz was born in Edmonton, Alberta, in 1961. His father, Barry Katz, was a pharmacist who owned a drugstore, 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 graduating, Katz began his career as a lawyer, specializing in corporate and franchise law. In 1991, he partnered with his father to acquire the Canadian rights to the Medicine Shoppe franchise. This marked his entry into the retail pharmacy industry. In 1996, Katz purchased the Rexall drugstore chain in Canada, which was then struggling. Under his leadership, Rexall experienced a remarkable transformation, becoming one of Canada's largest pharmacy chains. He expanded the business to over 470 stores across Canada. In 2016, Katz Group sold Rexall Health to McKesson Corp. for C$2.9 billion.
Key Business Strategies
Katz's business strategies included strategic acquisitions and expansion. He acquired Pharma Plus and other pharmacy chains. He also ventured into real estate and entertainment, developing the Edmonton Ice District, a mixed-use sports and entertainment district. In 2008, Katz purchased the Edmonton Oilers NHL team. He played a crucial role in building Rogers Place arena, the home of the Edmonton Oilers.
Philanthropy
Daryl Katz has been recognized for his substantial philanthropic contributions to healthcare, education, and the arts. He donated $7 million to the University of Alberta's Faculty of Pharmacy and Pharmaceutical Sciences and Faculty of Law and $20 million to Mount Sinai Hospital in Toronto. Between 2005 and 2010, Katz and his wife donated over $50 million to various organizations across Canada.