Veteran dealmaker Joffe is in talks with Old Mutual Alternative Investments to sell company valued at R4.1bn
Old Mutual’s private equity arm is in talks to buy Long4Life, the SA investment company founded by entrepreneur Brian Joffe, according to people familiar with the matter.
Long4Life, which owns retailer Sportsmans Warehouse and beauty-salon chain Sorbet, was valued at R4.1bn as of Tuesday’s market close. The stock has declined 13% since an initial public offering in 2017, despite more than doubling since this time last year.The company said in a statement last week that it’s in talks with a potential buyer after receiving an unsolicited expression of interest, without identifying the suitor. A spokesperson declined to comment further.
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