Long4Life plans a third acquisition to its stable
The Brian Joffe-led entity has entered into negotiations unrelated to the potential acquisition of Holdsport
Investment holding company Long4Life has hit the ground running and plans to add a third acquisition to its stable, four months since listing on the JSE.
In a cautionary released on Tuesday the Brian Joffe-led entity said it had entered into negotiations unrelated to the potential acquisition of Holdsport.
The company advised shareholders to exercise caution when dealing in its shares "until a further announcement in this regard is made".
In July, the company bought 100% of beauty therapy franchise Sorbet for R116m, which was settled through a combination of cash and shares.
A deal is still being stitched together with Holdsport, the owner of Sportsmans Warehouse and Outdoor Warehouse.
Long4Life said that it was not biting off more than it could chew.
"These transactions are all carefully considered and available resources — both funds and people — are taken into account when any decision is made to pursue any potential transaction," it said.
"Acquisitions are considered as and when appropriate," the investment group said.
Both Joffe and his second in command at Long4Life, former Famous Brands lead man Kevin Hedderwick, built their brands through aggressive acquisition strategies. Long4Life is valued at about R2.5bn.