LONG4LIFE
Brian Joffe’s investment vehicle opts for buybacks not deals
Owners of quality businesses reluctant to sell at current depressed valuations
07 December 2020 - 20:12
Long4Life, the investment holding company run by former Bidvest CEO Brian Joffe, is buying back as much as R113.8m of its own shares, underscoring the difficulty of doing deals even when valuations take a knock in the toughest economic climate since the Great Depression.
The investment group, which owns beauty chain Sorbet as well as the Sportsmans Warehouse and Outdoor Warehouse brands, will spend a maximum of R3.16 per share to buy as much as 36-million shares — about 4.7% of its issued paper — from December 7 to 14...
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