MARC HASENFUSS: Raise a glass to Brian Joffe
I wonder whether Distell might be paying Joffe a friendly visit before Long4Life beverages segment decides to shift into alcoholic brands
The market remains in two minds around deal-making doyen Brian Joffe’s new investment vehicle Long4Life — at least judging from the iffy share price over the past six months. Things could change quickly if Joffe snags a big deal to supplement the initial Holdsport transaction. Of course, with vendors of "lifestyle" assets no longer able to reference the JSE for demanding earnings multiples, street-smart Joffe knows that cash-flush Long4Life can afford to bide its time. But if anyone doubts Joffe’s ability to acquire and incorporate assets outside his old Bidvest stomping ground, they should have a look at the initial successes notched up in Long4Life beverages segment. Recently acquired specialist beverage businesses Chill and Inhle reported volumes up a fizzy 21% and revenue higher by 21%. Most encouraging is that the beverages segment’s own brands — Score Energy and Fitch & Leedes — recorded pleasing growth. Long4Life has made significant investments in upgrades and enhancements t...
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