South Africa: Clicks to Buy Popular Sorbet Beauty Salons' Holding Company for R105m

24 November 2022
Daily Maverick (Johannesburg)
By Neesa Moodley

Retail and pharmaceutical group Clicks plans to buy Sorbet Holdings, which owns more than 190 popular Sorbet beauty salons for R105-million.

If approved by the Competition Commision, the transaction will result in Clicks holding 100% of all Sorbet group entities, including Sorbet brands, which Clicks has had a 25% stake in since 2015. Old Mutual Private Equity currently owns Sorbet, having acquired the business as part of the previously listed Long4Life group.

Bertina Engelbrecht, chief executive officer of Clicks Group, says Sorbet is a natural strategic fit and is closely aligned with Clicks' health, beauty and wellness offerings.

"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," she says.

Sorbet products are already available for sale in Clicks stores and Engelbrecht notes that this is Clicks' "first foray" into owning a franchise chain, implying that the group might consider other opportunities in the franchise sector.

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Sorbet group's chief executive, Linda Sinclair, will report to Engelbrecht and all Sorbet employees will be transferred to the Clicks group.

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