Brian Joffe’s Long4Life set to buy Sportsman’s warehouse owner
Investment firm Long4Life, founded by businessman Brian Joffe, has made an offer to purchase Holdsport, the parent company of Sportsman’s warehouse, according to a shareholder statement by the company.
“The proposed transaction which envisages Long4Life acquiring the entire issued share capital of Holdsport in a share for share exchange at a ratio of 10.44 Long4Life shares for every 1 Holdsport ordinary share,” the company said.
Holdsport currently boasts 34 Sportsman’s Warehouse stores across the country and is also of a number of other retail outlets including Outdoor Warehouse Capestorm and Second Skins.
Joffe raised R2 billion when he listed his new investment company Long4Life on the JSE on 7 April, personally investing R100 million of his down funds into the business.
This marks the second major investment by Long4Life, with the company reportedly in negotiations to acquire beauty franchise, Sorbet.
According to the company’s website, it expects to target investments with a ‘lifestyle’ focus. Industries that will not be targeted include banking (for avoidance of doubt this is the business of deposit taking), mining and resources companies.
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