Long4Life completes purchase of beauty firm Sorbet Group

South Africa-based investment holding firm Long4Life has concluded a share purchase agreement to buy health, beauty, and grooming outlets holder Sorbet Group.

Initially announced in March this year, the acquisition includes a maximum consideration of R116m ($9m).

Sorbet Group founder Ian Fuhr and his management will remain with Sorbet to work towards its growth and development.

Long4Life chief executive Brian Joffe said: “It has been our stated intention to pursue investments predominantly with a lifestyle focus and Sorbet certainly fits neatly into our criteria.

“It is a company that has attractive growth prospects and has many of the characteristics we consider in our investment decision making.”

Sorbet operates 186 franchised salons in South Africa and the UK. It further supported its footprint through collaboration with the Clicks group to include male grooming and ethnic hair segments.

Ian Fuhr said: “We look forward to building Sorbet into a significant health and beauty conglomerate.

“With the financial backing of Long4Life, we will now be able to make acquisitions of other businesses in the sector, while also continuing to launch new formats of the Sorbet brand.”

Sorbet operates through multiple store formats such as all-round beauty therapy Sorbet Salon, express hairstyling Sorbet Dry Bar, men's grooming Sorbet Man, and ethnic hair treatments and hairstyling Candi & Co.

Sorbet provides professional beauty therapy treatments, bodycare, and skincare offerings for both men and women.