Long4Life intent on doubling market cap after declaring maiden dividend
'We need to find a big deal that will step us up,' says deal-making doyen Brian Joffe
Long4Life, the recently formed investment company headed by deal-making doyen Brian Joffe, is intent on doubling its market capitalisation to R10bn by making smart acquisitions. Speaking after the release of financial results for the 11 months to end February, Joffe said that despite making acquisitions worth a collective R3.6bn since listing in April 2017, the company was still sub-scale, with a market capitalisation of about R5bn. “Having a market capitalisation of R10bn makes you a player … we need to find a big deal that will step us up.” Long4Life has already bagged a handful of acquisitions — most notably sports and outdoor-gear retailer Holdsport, beverages companies Inhle and Chill, as well as beauty therapy franchisor Sorbet. Although these businesses only contributed for four months of the trading period, Long4Life — which incurred operating costs for 11 months — showed an ebitda (earnings before interest, tax, depreciation and amortisation) of R170m and headline earnings ...
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