Brian Joffe’s Long4life Buys Drinks-Maker Chill for $33 Million

 In news

Long4Life, the investment company founded by South African entrepreneur Brian Joffe, agreed to buy Chill, a closely held maker, packager and distributer of drinks for a minimum of 452m rand.

* Chill’s brands includes Score Energy, Fitch & Leedes tonic and Bashew’s soft drinks;
* 75% of deal will be settled in cash; rest in Long4Life shares;
* Sellers are Chill senior management team, Africa Beverage Ventures and Raubenbel;
* NOTE: Long4Life sold shares in Johannesburg in April and has targeted acquisitions of consumer goods companies;
* NOTE: Joffe previously founded food-services provider Bid Corp and Bidvest, a conglomerate. Source: Bloomberg

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