The Long4Life investment holding company owns brands including the Sorbet beauty chain, retailers Sportsmans Warehouse and Outdoor Warehouse, and sportswear brands First Ascent and Capestorm. The company also has a beverage division comprising Inhle Beverages in Gauteng and Chill Beverages in the Western Cape, producing brands like Score energy drinks and Fitch & Leedes.
"The board is delighted that Brian will continue to participate in the company’s future in a strategic role and that Long4Life will continue to be guided by both Brian and Graham’s superb leadership and remarkable experience," Long4Life stated in a Sens announcement.
“The board has commenced a process to identify Brian’s successor and to allow for a timeous and smooth handover. Shareholders will be advised on progress made in this regard in due course,” it said.
The company also announced that it received an "unsolicited expression of interest" to acquire all the shares in Long4Life. "The Board is evaluating this and will update shareholders should there be any further developments," it said.
One of SA's most successful entrepreneurs, Joffe founded Bidvest in 1989 and is credited with significantly contributing to its growth into an industrial conglomerate. He left Bidvest and established Long4Life five years ago.