Investment holding firm Long4Life has agreed to acquire South-Africa based contract packaging firm Inhle Beverages for around R360m ($27.2m).
Based in Heidelberg of Gauteng, Inhle is specialized in the canning and bottling of carbonated soft drinks, energy drinks and natural mineral water.
The company produces both branded and private label products by using cans and polyethylene terephthalate (PET).
Founded in 2003, Inhle operates seven production lines with around 300 employees.
The company, which mostly focuses on canned and already-mixed beverage products, has received a liquor licence for packaging purposes.
Subject to some exclusions, the company will also provide complete sourcing service for all material required in the manufacturing of a finished product.
Inhle produces products for various customers ranging from blue chip corporate to small family businesses.
The firm offers a complete manufacturing service for any kind of beverage, excluding pulp-based fruit juices and products containing milk.
Subject to certain regulatory approvals, the deal is expected to complete by the end of October this year.
Long4Life chief executive Brian Joffe said: This acquisition fulfils the broad definition of our investment criteria in the leisure space. It presents a strategic opportunity from which we can build a beverage business of scale, through both organic growth and bolt-on acquisitions.
“Immediate access to the largest market in the country as well as its proximity to surrounding territories, positions Inhle extremely well from an expansionary point of view.”
Inhle director Chris Botha said: “The overriding benefit of this acquisition is that it positions Inhle for its next exciting growth chapter.”
Image: Long4Life to acquire South-Africa based contract packaging firm Inhle Beverages. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.