Investment firm\u00a0Long4Life,\u00a0founded 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.<\/p>\n
“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.<\/p>\n
Holdsport currently boasts 34 Sportsman’s Warehouse stores across the country and is also of a number of other retail outlets including\u00a0Outdoor Warehouse Capestorm and Second Skins.<\/p>\n
Joffe raised R2 billion when he listed his new investment company Long4Life on the JSE on 7 April, personally investing\u00a0R100 million of his down funds into the business.<\/p>\n
This marks the second major investment by\u00a0Long4Life, with the company reportedly in negotiations to acquire beauty franchise, Sorbet.<\/p>\n
According to the company’s website, it\u00a0expects to target investments with a \u2018lifestyle\u2019 focus. Industries that will not be targeted include banking (for avoidance of doubt this is the business of deposit taking), mining and resources companies.<\/p>\n