Market cheers as Brian Joffe’s Long4Life buys Inhle bottler
His investment company will pay up to R360m for the Heidelberg bottling company, in what will be its third buy if the Holdsport deal goes through
Lifestyle investment vehicle Long4Life has snapped up Inhle Beverages, a Gauteng-based canner and bottler, for R360m in cash and shares as it eyes a move into the beverages sector. Long4Life, which Brian Joffe launched early in April, said on Wednesday it had agreed to buy all the shares in Inhle, subject to a due-diligence process and regulatory approval. Joffe said the buyout broadly fulfilled Long4Life’s investment criteria in the leisure industry, presenting a strategic opportunity to build a beverage business through organic growth and bolt-on acquisitions. “Immediate access to the largest market in the country, as well as its proximity to surrounding territories, positions Inhle extremely well from an expansionary point of view,” said Joffe. Long4Life did not respond to questions about the ratio of cash and shares it was paying for Inhle, an unlisted family business that has been operating since 2003. The business is contracted to foods and beverages group Clover for the bottl...
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