Health and beauty retailer Clicks Group has acquired the rest of Sorbet Holdings, the owners of the national chain of Sorbet beauty salons, for R105 million.
Clicks Group has owned a 25% stake in Sorbet Brands, which holds the Sorbet intellectual property, since 2015 and now holds 100% of all Sorbet group entities.
The Sorbet Group has over 190 outlets across South Africa, operating under the Sorbet, Sorbet Man and Candi & Co brands.
Sorbet products are currently sold in Sorbet salons and Clicks stores.
Bertina Engelbrecht, chief executive officer of Clicks Group, said Sorbet has a natural strategic fit and is closely aligned with Clicks Group’s health, beauty and wellness offering. “Sorbet is a highly trusted brand with a loyal and growing customer base, and we aim to capitalise on the opportunities to expand our presence together and accelerate revenue growth.”
“Since acquiring our shareholding in Sorbet Brands we have worked closely with the management team over the past seven years and developed a shared vision for the business. Sorbet has a strong and entrepreneurial management team and we believe the business will complement the offering of our chain of over 850 Clicks stores nationwide,” she said.
Clicks Group acquired Sorbet from Old Mutual Private Equity, who acquired the business as part of the previously listed Long4Life group.
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