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Three Remarkable Business Steps that Daryl Katz Made The success story of Daryl Katz, Katz Group’s founder, is definitely an impressive one. The Katz Group is one of the Canada’s largest companies owned by a private entity. However, not much about Katz’s career is known by many people, except for the fact that he’s the owner of an NHL team called the Edmonton Oilers. A closer look into his career reveals a series of impressive business moves marked by the appetite to apply every business success to finance the ever-growing portfolio that cuts across pharmaceuticals, real estate, and entertainment. The Pharmacy Ventures Daryl was only a toddler when the Katz family got into the retail pharmaceutical business. During that time, his father, who was a trained pharmacist, started up and operated a large chemist shop Edmonton. Later, Daryl studied law and started up a law firm, after which he took interest in his father’s ventures. He joined hands with his father to create the Medicine Shoppe in 1992. Yet, Katz demonstrated enthusiasm for a bigger acquisition than a mere single family-owned pharmacy. The investor has bought Rexall drugstores by 1996, which has numerous stores throughout Canada. Medicine Shoppe and Rexall experienced expansion under Katz’s leadership. Within only 6 years, Katz had harnessed the success of small pharmacy to grow his investment portfolio to about 243 drug stores.
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Daryl Katz completed the acquisition of the Edmonton Oilers for C$200M in 2008–a step some investors would deem risky. His vision was greater than just the proprietorship of the hockey team. He arranged to turn the northern Edmonton area into a center for recreation that would attract folks from across the whole city. Katz committed several years engaging the Edmonton city council to contribute financially to the construction of the Rogers Place arena, which would be the new home ground for Oilers. The council committed to pump C$279 into the idea. The billionaire investor plans to put more of his money into other real estate ventures in the area, including residential properties, condos, and restaurants. A Feature Film Venture Daryl Katz chose to grow his investment portfolio by venturing into the feature film industry. He joined hands with the experienced producer Joel Silver to found Silver Pictures Entertainment that’s focused on the development of feature films alongside web content. The company has been involved in some great projects like “House on the Haunted Hill” and Gothika. From the look of things, all that Daryl Katz is involved in becomes a success story. Obviously, his typical business decisions are exemplary. Provided he keeps making smart moves, there’s no restriction as to what he can grow from what he has already in real estate, entertainment, and pharmaceuticals.