Long4Life – a business whose name either sounds plaintively wistful or rudely boastful, has announced that it plans to acquire the Cape-based beverage business Chill. The sale of Chill, which itself has an achingly groovy name, brings such products as hipster-darling Fitch & Leedes mixers and the more proletarian Score energy drink to market, and is also a significant supplier to Diageo, will end up fetching as much as R734m for the current owners, who have signalled their approval of the deal by taking half of it on shares. While the market hasn’t exactly done handsprings, Long4Life CEO Brian Joffe is sanguine about the acquisition. “This business has got to a point where it needs, I suppose, a bigger daddy,” he drawls with characteristic insouciance. “They’ve got some very good brands they want to expand into the rest of SA where they aren’t.”
Comment: Consumer Goods Industry, now is the time to ask yourself, are you ready for a shakeup? This is Brian Joffe, the Iggy Pop of corporate career reinvention we’re talking about.