In seeking lifestyle-focused investments, Long4Life buys spa group Sorbet
Brian Joffe’s new brainchild Long4Life has bought 100% of beauty therapy franchise Sorbet for a maximum R116m, to be settled through a combination of cash and Long4Life shares. Sorbet has 186 franchise stores in SA and will shortly open its fifth company-owned store in the UK. The group offers a range of professional beauty therapy treatments, as well as premium body and skincare products for women and men. "It has been our stated intention to pursue investments predominantly with a lifestyle focus and Sorbet certainly fits neatly into our criteria. It is a company that has attractive growth prospects and has many of the characteristics we consider in our investment decision-making," Joffe said on Friday. Sorbet founder Ian Fuhr and his management team have agreed to remain with the company to deliver its next phase of growth and development. Joffe is doing with Long4Life and Sorbet what he has always done through Bidvest. Long4Life’s objective is to achieve superior returns over th...
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