MARC HASENFUSS: Labat gets fired up about weed
Labat, a company headed by former SA Rugby boss Brian van Rooyen, made a surprise trip into the weed industry by announcing plans to establish a ‘fully integrated cannabis business’
It was a matter of time before cannabis investment options were dangled on the JSE. So far there have been only small hits; liquor group Distell bought into cannabis-infused beer Durban Poison last year, and small nutritionals business Go Life has hinted at shifting into cannabis products.
Last week Labat, the investment company headed by former SA Rugby boss Brian van Rooyen, made a surprise trip into the weed industry by announcing plans to establish a "fully integrated cannabis business". Labat has largely battled for traction during its 25 years on the JSE, with the company taking various guises that have not really impressed investors. But Van Rooyen has never stopped mauling for deals and hopefully Labat can snag those elusive high returns from this venture.