Acquisitive Long4Life has now bought Chill Beverages
Brian Joffe’s firm could pay R734m for Chill Holdings
The Fitch & Leedes tonic water you may have used to top up your gin has been bought by Brian Joffe’s Long4Life. In a deal that may end up costing the recently listed company as much as R734m, Long4Life has agreed to buy Western Cape drinks group Chill Holdings from senior management, Africa Beverage Ventures and Raubenbel. Chill makes, packs and distributes a range of drinks — including its own brands Score, Fitch & Leedes, Bashews and Country Club. It also bottles nonalcoholic and alcoholic drinks for companies such as Diageo, the global group that owns brands such as J&B, Tanqueray, Guinness and Smirnoff. “This business has got to a point where it needs, I suppose, a bigger daddy,” said Long4Life CEO Brian Joffe. “I think there’s an opportunity, certainly from the point of view of the seller, to participate and share with us in developing and consolidating their business. They’ve got some very good brands they want to expand into the rest of SA where they aren’t,” Joffe said.
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